Shillong, July 19: Encrypted messaging platform Telegram has successfully secured $210 million from multiple investors through bond sales, including its founder and CEO, Pavel Durov.
The fundraising effort comes at a time when Telegram continues to grapple with profitability, especially amid an economic downturn that has led to limited funding opportunities.
John Hyman, Telegram’s Chief Investment Adviser, explained that the platform opted for bond issuance worth $270 million due to significantly higher interest rates since 2021, resulting in different issue prices for the bonds.
Prominent funds with excellent reputations were among the buyers of these bonds, according to Durov, who also disclosed that he personally invested “tens of millions” to support Telegram’s growth by purchasing approximately a quarter of the new bonds.
Telegram Messenger stands among the world’s top-five most downloaded apps, boasting over 700 million monthly active users as of Summer 2022. The company’s headquarters are based in Dubai.
To diversify its revenue streams, the encrypted messaging platform introduced a paid subscription option on its platform last year, priced at around $5 (approximately Rs 400) per month.
Over the past two and a half years, Telegram has witnessed remarkable growth, attracting over 300 million new users.
Recently, Durov unveiled the addition of a ‘Stories’ feature, set to launch in early July, after users consistently requested its implementation. The new feature will allow users to control their audience’s visibility with options like Everyone, only contacts with exceptions, a few selected contacts, or a list of Close Friends.