Telegram raises $210 mn by way of bond gross sales amid funding crunch

New Delhi, July 19  Encrypted messaging platform Telegram has raised $210 million from a number of buyers by way of bond gross sales. The buyers embody its founder and CEO, Pavel Durov.

The fund increase comes as Telegram remains to be not worthwhile amid the financial downturn the place funding is scarce.

John Hyman, Telegram Chief Funding Adviser, informed TechCrunch that the platform raised the capital by issuing bonds price $270 million as a result of “rates of interest have gone up considerably since 2021, the bonds have a unique situation worth”.

A set of “well-known funds with stellar reputations” bought the bonds, in accordance with Durov.

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Durov stated he personally purchased a couple of quarter of the brand new Telegram bonds, investing “tens of thousands and thousands into Telegram’s progress.”

Telegram Messenger is without doubt one of the top-5 most downloaded apps on the earth. In Summer season 2022, it handed 700 million month-to-month lively customers. The corporate relies in Dubai.

The encrypted messaging platform final yr introduced a paid subscription on its platform that prices round $5 (about Rs 400) a month.

The platform added over 300 million customers prior to now two and a half years.

Final month, Durov launched a brand new ‘Tales’ function and stated it is going to be accessible in early July.

“For years, our customers have been asking us to implement Tales in Telegram. Greater than half of all function requests that we obtain are associated to Tales,” Durov posted on his Telegram channel.

Customers will be capable to select who can see their tales with granular precision — Everybody, solely their contacts (with exceptions), a number of chosen contacts or an inventory of Shut Mates.

Customers can even be capable to cover tales posted by any contact by shifting them to the ‘Hidden’ record within the Contacts part as a substitute of the primary display.