Telegram has raised roughly $210 million from a number of investors, including its founder and CEO Pavel Durov, through the issue of bonds.
The messaging service, which has over 800 million monthly users, raised money by issuing $270 million worth of bonds. The bonds have a different issuance price because interest rates have increased dramatically since 2021, a company executive told TechCrunch.
The fresh funding is intended to get Telegram closer to the “break-even” point, according to Durov, who asserted that his service was “closer to profitability in absolute numbers” than rivals like Twitter and Snap. Telegram is still not profitable.
Without naming them, Durov said that “well-known funds with stellar reputations” bought the bonds. These backers are “highly sophisticated global funds who specialise in bonds.” a spokesman told TechCrunch.
The latest funding comes after Telegram raised over $1 billion in debt financing over two years ago through the sale of 5-year pre-IPO convertible bonds. Telegram has been contacted by TechCrunch for more details.
