Telegram recently raised approximately $210 million through bond sales, with investors including its founder, Pavel Durov. The popular messaging app, with over 800 million monthly users, issued $270 million in bonds. According to a company executive, the bond issue price differed due to the significant increase in interest rates since 2021. Although Telegram is not yet profitable, this new financing aims to bring them closer to the break-even point. Durov claimed that Telegram is closer to profitability than competitors like Twitter and Snap in absolute numbers. The bonds were purchased by “well-known funds with stellar reputations,” as described by Durov, although the specific funds were not disclosed. Durov also revealed that he personally invested tens of millions into the new Telegram bonds, in addition to the hundreds of millions he has previously spent on sustaining the app. Telegram continues to gain over 2.5 million users daily, and Durov mentioned his ownership of Bitcoin and Toncoin, a loosely linked token. This funding comes after Telegram raised over $1 billion in debt financing by selling 5-year pre-IPO convertible bonds more than two years ago. Further details on the recent bond sales are yet to be obtained.
