CEO and creator of Telegram Pavel Durov has announced that the firm raised $330 million last week through the sale of bonds.
The founder made the announcement on his channel on Monday.
Durov announced that the bond sale had tremendous demand and advantageous terms for the business.
“The increased interest from international financial institutions in our bonds is indicative of Telegram’s growing user base and revenue generation,” he said.
He stated that international financial institutions appreciate the company’s expansion, but he did not disclose the organisations that made investments in the platform.
These bonds were offered for $91—up from $78 of the last issue—with a maturity date of either 2026 or when Telegram goes public, whichever comes first, according to sources familiar with the arrangement.
In a recent interview with the Financial Times, Durov stated that the company hopes to turn a profit in the coming year, indicating that it is moving closer to making its stock market debut.
In his Monday statement, he emphasised that the bond offering will further solidify our standing as an independent platform capable of battling the heavyweights inside our sector.
The Dubai-based chat app, which has over 900 million users, issued bonds worth $210 million last year.
In recent years, the company has added new revenue streams, such as premium subscriptions, username sales on the blockchain, and ads.
This month, the company revealed that personal users can upgrade to business accounts by paying a subscription fee.
News.ng earlier reported that a regulator from Australia wrote legal letters to social media companies, including Facebook, YouTube, X, Telegram, and Reddit, requesting that they provide information on the measures they have taken to remove content related to terrorism.