Home Technology Telegram’s $210 Million Bond Sale Is a Sign of the App’s Growing Popularity

Telegram’s $210 Million Bond Sale Is a Sign of the App’s Growing Popularity

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Telegram’s $210 Million Bond Sale Is a Sign of the App’s Growing Popularity

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Telegram, the popular messaging app with over 800 million monthly users, has raised $210 million through bond sales. This brings the total amount of debt financing raised by the company to over $1.2 billion.

Telegram issued bonds worth $270 million to a number of investors, including its founder and CEO, Pavel Durov, who personally bought about a quarter of the new Telegram bonds. The bonds were purchased by “well-known funds with stellar reputations” that specialize in bonds, according to a company spokesperson.

The new financing is aimed at taking Telegram closer to the “break-even” point, as the company is still not profitable. Durov claimed that Telegram is “closer to profitability in absolute numbers” than competitors including Twitter and Snap.

Telegram continues to experience rapid growth, adding over 2.5 million users each day. The messaging app has become increasingly popular due to its focus on privacy and security, as well as its user-friendly interface and innovative features.

Telegram has also been expanding its offerings, including the launch of its Telegram Open Network (TON) blockchain platform. TON is designed to support a wide range of decentralized applications and services, and the platform’s native token, Toncoin, is loosely linked with the messaging app.Debt Financing

Telegram previously raised over $1 billion in debt financing by selling 5-year pre-IPO convertible bonds more than two years ago. The company has been using the funds to invest in its growth and expand its offerings.

The new bond sales come at a time when interest rates have gone up significantly since 2021, which has resulted in a different issue price for the bonds, according to a company executive.

In summary, Telegram’s latest bond sales have raised $210 million from a group of sophisticated global funds that specialize in bonds. The new financing will help take the company closer to profitability and support its ongoing growth and expansion.

As Telegram continues to innovate and expand its offerings, it is quickly becoming a major player in the tech and business world. The company’s focus on privacy and security, combined with its user-friendly interface and innovative features, has made it a popular choice among consumers and businesses alike.

First reported on TechCrunch

Frequently Asked Questions

Q: How much money did Telegram raise through its recent bond sales?

A: Telegram raised $210 million through its recent bond sales.

Q: What is the total amount of debt financing raised by Telegram so far?

A: With the recent bond sales, Telegram’s total amount of debt financing raised now stands at over $1.2 billion.

Q: Who purchased the bonds issued by Telegram?

A: The bonds were purchased by “well-known funds with stellar reputations” that specialize in bonds, according to a company spokesperson. Among the investors was Telegram’s founder and CEO, Pavel Durov, who personally bought about a quarter of the new Telegram bonds.

Q: What is the purpose of the new financing raised by Telegram?

A: The new financing is aimed at taking Telegram closer to the “break-even” point, as the company is still not profitable. The funds will likely be used to support the company’s ongoing growth and expansion.

Q: How does Telegram’s growth compare to its competitors?

A: Telegram continues to experience rapid growth, adding over 2.5 million users each day. Telegram’s CEO, Pavel Durov, claimed that the company is “closer to profitability in absolute numbers” than competitors like Twitter and Snap.

Q: What factors contribute to Telegram’s popularity?

A: Telegram’s popularity can be attributed to several factors. The messaging app’s focus on privacy and security has resonated with users who are seeking more secure communication options. Additionally, its user-friendly interface and innovative features have made it a popular choice among consumers and businesses alike.

Q: What other offerings has Telegram been expanding into?

A: Telegram has been expanding its offerings, including the launch of its Telegram Open Network (TON) blockchain platform. TON is designed to support a wide range of decentralized applications and services, and it has its native token called Toncoin, which is loosely linked with the messaging app.

Q: How has Telegram been utilizing its previous debt financing?

A: Telegram previously raised over $1 billion in debt financing through the sale of 5-year pre-IPO convertible bonds more than two years ago. The company has been using these funds to invest in its growth and expand its offerings.

Q: How have rising interest rates impacted Telegram’s bond sales?

A: Rising interest rates since 2021 have affected the issue price of Telegram’s recent bonds. The company’s executive mentioned that the interest rate fluctuations influenced the pricing of the bonds during this latest bond sale.

Q: What role does Telegram play in the tech and business world?

A: Telegram is quickly becoming a major player in the tech and business world. Its emphasis on privacy and security, coupled with its user-friendly interface and innovative features, has contributed to its growing popularity among both consumers and businesses. As the company continues to innovate and expand its offerings, it is becoming an influential player in the messaging and communication space.

Featured Image Credit: Unsplash

John Boitnott

John Boitnott is a news anchor at ReadWrite. Boitnott has worked at TV News Anchor, print, radio and Internet companies for 25 years. He’s an advisor at StartupGrind and has written for BusinessInsider, Fortune, NBC, Fast Company, Inc., Entrepreneur and Venturebeat. You can see his latest work on his blog, John Boitnott

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