Telegram has raised over $ 1 billion from bond sales to a number of major investors around the world. This was announced by the founder of the messenger Pavel Durov.
In his opinion, this will help the company continue to grow while remaining independent. As Durov noted, the fundraising was a step towards the company’s goal of becoming a financially sustainable project.
According to RBC, the company has placed five-year convertible dollar bonds at 7% per annum. The minimum lot for participation was $ 500 thousand, and the par value of one security was $ 1000. The service will pay coupons in September 2021.
Today, March 23, the Mubadala and Abu Dhabi Catalyst Partners funds announced the purchase of Telegram’s bonds – they invested $ 75 million each. According to a source close to Telegram, Vedomosti, $ 150 million is the largest amount that buyers paid for the bonds.
Durov previously announced the launch of his own Telegram advertising platform this year. At the same time, he assured that monetization will go through paid new functions for business teams, and the current services for ordinary users will remain free, and there will still be no advertising in personal and group chats.