Wealth Tribune

Tuesday, October 15, 2024
Tuesday, October 15, 2024
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Home Headlines Telegram secures $330 million in bond sales

Telegram secures $330 million in bond sales

by Uma Rajagopal
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Telegram secures $330 million in bond sales

(Reuters) – Popular messaging platform Telegram raised $330 million through bond sales last week, founder and CEO Pavel Durov said on Monday.

The offering was oversubscribed and terms of the bond were favorable for the company, Durov wrote on his own Telegram channel.

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

In an interview with the Financial Times last week, Durov said the company was “hoping to become profitable next year” as it moves closer to a stock market listing.

Durov said on Monday the bond sale “will further solidify our position as an independent platform that is able to challenge the “Goliaths” of our industry”.

 

(Reporting by Harshita Mary Varghese; Editing by Krishna Chandra Eluri)

 

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Uma Rajagopal has been managing the posting of content for multiple platforms since 2021, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune. Her role ensures that content is published accurately and efficiently across these diverse publications.