Telegram Sells $330 Million in Bonds to Global Funds

In mid-March 2024, Telegram issued bonds worth $330 million. This was announced by the messenger’s creator, Pavel Durov.

According to him, demand exceeded supply, with participants in the deal being “top-tier global funds with impeccable reputations.”

“The increased demand for our bonds shows that global financial institutions value Telegram’s audience growth and monetization,” Durov wrote on his channel. 

He added that the placement terms were “the most favorable for Telegram in the company’s history.”

Earlier, Durov confirmed plans for Telegram Group Inc. to go public with an IPO. According to him, potential investors “valued the company at $30 billion.” 

Back in March 2021, Telegram raised over $1 billion through the sale of convertible bonds. 

The largest investors were funds from the United Arab Emirates—Mubadala Investment Company and Abu Dhabi Catalyst Partners. Together, they purchased bonds worth $150 million.

The Russian Direct Investment Fund acquired a minority stake in Mubadala Investment Company’s investments, amounting to about $2 million.

In April of the same year, the messenger conducted another placement—worth $750 million. In July 2023, the company issued bonds worth $270 million, about a quarter of which were bought by Durov himself.