Telegram secures $330 million in bond sales

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)