TeCHnology

The messaging app, used by over 800 million users each month, raised the capital by issuing bonds worth $270 million. “Because interest rates have gone up significantly since 2021, the bonds have a different issue price,” John Hyman, Telegram Chief Investment Adviser, told TechCrunch.

Telegram is still not profitable and the new financing is aimed at taking it closer to the “break-even” point, said Durov, claiming that his app was “closer to profitability in absolute numbers” than competitors including Twitter and Snap.

Telegram has grown fast in recent years even as new social offerings continue to mushroom. The app has added over 300 million users in the past two and a half years and is attracting 2.5 million new signups each day.