Telegram app raises $1billion by selling bonds: founder
The encrypted messaging app Telegram has raised over $1 billion by selling bonds to foreign investors, its Russia-born founder Pavel Durov said Tuesday.
Durov, 36, wrote on his Telegram channel that the bonds were sold to "some of the largest and most knowledgeable investors from all over the world".
He added that this will allow Telegram to grow "while sticking to its values and remaining independent".
Durov said the funds will fuel the app's monetisation strategy that was outlined in December, according to which the platform will launch paid services this year.
Telegram is a popular social media platform in a number of countries, particularly in the former Soviet Union, and is used both for private communications and sharing information and news.
It was founded in 2013 by brothers Pavel and Nikolai Durov, who also founded Russia's social media network VKontakte.
Meanwhile, UAE's Mubadala Investment Company said on Tuesday it had invested $75 million in five-year pre-IPO convertible bonds of Telegram, with Abu Dhabi Catalyst Partners investing a further $75 million.
The Abu Dhabi-based state investor said the strategic partnership between the companies is also expected to create new collaboration opportunities and thereby further advance Abu Dhabi’s ecosystem of innovative and tech-enabled companies.
Industry executives and analysts say growth in online users, WFH... READ MORE
China remains growth generator with revenues up 15.4% READ MORE
Users can also turn off algorithmic ranking and display content in... READ MORE
Project will store 240 megawatt-hours of energy, or enough to power... READ MORE
Hazza Al Mansouri, Sultan Al Neyadi explain their preparations and... READ MORE
Hello and welcome to the Khaleej Times live IPL blog. READ MORE
This is in addition to their annual dues. READ MORE
The new regulation will come into force five days after the... READ MORE