Telegram, The Messaging Big Linked to TON Community, Seems to be Increase $1.5B Via Bond Sale: WSJ
Messaging platform Telegram is elevating at the very least $1.5 billion via a brand new bond providing.
The agency is elevating the funds via a five-year bond with a 9% yield, which has drawn curiosity from each returning traders such because the world’s largest asset supervisor BlackRock and Abu Dhabi’s sovereign wealth fund Mubadala, in addition to new entrants together with hedge fund Citadel, the Wall Avenue Journal studies citing sources with the deal.
The proceeds might be used to repurchase debt from Telegram’s earlier bond issuance in 2021, due subsequent March. The brand new bonds are convertible into fairness at a reduction if Telegram goes public.
Telegram initially developed layer 1 community TON, earlier than making it an unbiased operation. In April, tokenization agency Libre mentioned it plans to tokenize $500 million value of Telegram debt on TON as Telegram Bond Fund (TBF).
Learn extra: Telegram’s TON Takes On Actual World Property With Libre’s $500M Tokenized Bond Fund
Telegram reportedly has over 1 billion month-to-month lively customers and 15 million paid subscribers, having doubled the determine in a single 12 months in keeping with Durov.
Financially, the agency turned a nook in 2024, reporting a $540 million revenue on $1.4 billion in income, up from a $173 million loss in 2023, the WSJ wrote. It tasks a revenue of greater than $700 million for 2025.
Telegram has grown its income by increasing its advert enterprise and introducing options like in-app digital presents and a platform for builders to construct apps and bots.
Telegram and Citadel didn’t instantly reply to requests for remark.
