Telegram has raised $1.7 billion from investors such as BlackRock to refinance debt and ensure further growth. The capital raising is one of the biggest of the year in the tech sector.
At the same time as Telegram strengthens its financial position, the company has entered into a strategic partnership with Elon Musk's AI company xAi. In addition, founder Pavel Durov faces legal challenges after a French court refused him to physically attend the Oslo Freedom Forum.
The bulk of the capital, $955 million, goes to repay existing debt maturing in 2026. The remaining $745 million adds fresh funds to Telegram for further operations and growth initiatives. The bonds have a maturity of five years and an annual interest rate of 9%, which is higher than previous issuances by the company.
Among the investors we find heavy players such as BlackRock, Abu Dhabi fund Mubadala and hedge fund Citadel. The bonds allow investors to convert the debt into shares at a 20% discount if Telegram goes public before the bonds mature - a clear signal that the market has faith in a future IPO.
Telegram now has over 1 billion users globally and passed $1 billion in annual revenue last year. The company has over $500 million in cash holdings, excluding crypto values, and has boosted profitability significantly over the past year.
Telegram hereby confirms its position as one of the most attractive technology platforms for global investors, laying a solid foundation for further expansion, technological development and possible IPO in the years to come.
Telegram has signed a one-year partnership with Elon Musk's AI company XaI. The AI assistant Grok will be integrated into the Telegram app and distributed to over one billion users. Telegram receives $300 million in cash and shares, as well as 50% of its revenue from XAI subscriptions sold through the platform.
Founder Pavel Durov was recently refused to physically attend the Oslo Freedom Forum following a decision in French law. Read more about the case in our own article on Kaupr.io.
Telegram has raised $1.7 billion from investors such as BlackRock to refinance debt and ensure further growth. The capital raising is one of the biggest of the year in the tech sector.
At the same time as Telegram strengthens its financial position, the company has entered into a strategic partnership with Elon Musk's AI company xAi. In addition, founder Pavel Durov faces legal challenges after a French court refused him to physically attend the Oslo Freedom Forum.
The bulk of the capital, $955 million, goes to repay existing debt maturing in 2026. The remaining $745 million adds fresh funds to Telegram for further operations and growth initiatives. The bonds have a maturity of five years and an annual interest rate of 9%, which is higher than previous issuances by the company.
Among the investors we find heavy players such as BlackRock, Abu Dhabi fund Mubadala and hedge fund Citadel. The bonds allow investors to convert the debt into shares at a 20% discount if Telegram goes public before the bonds mature - a clear signal that the market has faith in a future IPO.
Telegram now has over 1 billion users globally and passed $1 billion in annual revenue last year. The company has over $500 million in cash holdings, excluding crypto values, and has boosted profitability significantly over the past year.
Telegram hereby confirms its position as one of the most attractive technology platforms for global investors, laying a solid foundation for further expansion, technological development and possible IPO in the years to come.
Telegram has signed a one-year partnership with Elon Musk's AI company XaI. The AI assistant Grok will be integrated into the Telegram app and distributed to over one billion users. Telegram receives $300 million in cash and shares, as well as 50% of its revenue from XAI subscriptions sold through the platform.
Founder Pavel Durov was recently refused to physically attend the Oslo Freedom Forum following a decision in French law. Read more about the case in our own article on Kaupr.io.
