Updated March 19th, 2024 at 01:15 IST

Messaging platform Telegram secures $330 million in bond offering

CEO Pavel Durov stated on his personal Telegram channel that the bond offering saw overwhelming demand, with favourable terms for the company.

Reported by: Business Desk
Telegram | Image:Pixabay
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Telegram secures funds: Telegram, the popular messaging platform, raised $330 million through bond sales last week, as announced by founder and CEO Pavel Durov on Monday.

CEO Pavel Durov stated on his personal Telegram channel that the bond offering saw overwhelming demand, with favourable terms for the company.

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He remarked, "The heightened interest in our bonds reflects the recognition from global financial institutions of Telegram's expanding audience and revenue generation."

Speaking to the Financial Times recently, Durov expressed the company's ambition to achieve profitability in the upcoming year, signalling its progression towards a potential stock market debut.

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Durov stressed on Monday that the bond sale "will further cement our status as an independent platform capable of challenging the giants within our industry."

(With Reuters Inputs)

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Published March 19th, 2024 at 01:15 IST