Telegram raises $330 million contemporary capital by bond gross sales

Telegram founder and CEO Pavel Durov mentioned on his channel right this moment that the corporate secured $330 million in funding by bond gross sales final week.

Durov mentioned that the providing was oversubscribed with favorable phrases to the corporate.

“This bond providing was oversubscribed, and we have been delighted to have world funds of the very best caliber with impeccable reputations as members. The phrases of the bonds (when adjusted for the Federal Reserve charge) have been essentially the most favorable for Telegram within the historical past of our firm,” he mentioned on his channel.

Whereas he didn’t identify establishments that invested within the platform, he mentioned that world monetary establishments worth the corporate’s progress.

In an interview with the Financial Times final week, Durov mentioned that the corporate goals to be worthwhile subsequent 12 months. He additionally talked about that Telegram is exploring an choice to go public.

“The primary cause why we began to monetize is as a result of we needed to stay unbiased. Usually talking, we see worth in [an IPO] as a method to democratize entry to Telegram’s worth,” he informed FT.

John Hyman, Telegram’s Chief Funding Adviser, informed Information World that the present yield of the bonds is 7.7%. The maturity for the bonds is both 2026 or when Telegram goes public, whichever is earlier. These bonds have been issued at a worth of $91— up from $78 of the final situation.

The chat app, which has greater than 900 million customers, issued bonds price $210 million final 12 months. Dubai-headquartered firm has launched new methods to earn income prior to now few years together with, adverts, username gross sales on the blockchain, and premium subscriptions. Earlier this month, the corporate introduced that private customers can convert their accounts to enterprise accounts by paying a subscription charge.