Telegram Raises $210 Million in Bond Sales

Messaging App Aims for “Break-Even” Point

Telegram, the popular messaging app used by over 800 million users monthly, has raised approximately $210 million through bond sales. The funds were obtained from various investors, including Telegram’s founder and CEO, Pavel Durov.

Raising Capital to Reach Profitability

The company issued bonds worth $270 million due to increased interest rates this year. A company executive revealed that this new financing is intended to bring Telegram closer to its “break-even” point. Durov claims that Telegram is already “closer to profitability” than competitors such as Twitter and Snap.

Sophisticated Global Funds Among Investors

Durov mentioned that a group of reputable funds with global expertise in bonds purchased the newly issued Telegram bonds, although their identities were not disclosed. According to a company spokesperson, these backers are highly sophisticated investment firms specialized in bond investments.

Pavel Durov Invests Personally in Telegram Bonds

Durov himself invested tens of millions into Telegram’s growth by purchasing about a quarter of the new bonds. He emphasized that this is in addition to hundreds of millions he has personally spent over the past decade to keep Telegram operational.

Continued User Growth and Other Investments

Durov stated that Telegram is attracting more than 2.5 million new users each day. Additionally, he mentioned owning Bitcoin and Toncoin – a token loosely associated with the messaging app.

Previous Debt Financing and Further Information

This recent funding round follows Telegram’s previous debt financing of over $1 billion through the sale of 5-year pre-IPO convertible bonds more than two years ago. Further information regarding the bond sales is currently being sought from Telegram.

More updates to come.