Durov raised money for the further work of Telegram

Durov Found Money For The Further Work Of Telegram.jpg

 

Pavel Durov

Telegram owners were able to use bonds to raise $ 1 billion for the development of their project and the payment of accumulated debts. The names of the investors and the names of the companies that invested in this project are not disclosed.

On March 12, Telegram’s five-year convertible dollar bonds were placed at par with a guaranteed rate of 7% per annum. The face value of each security was $ 1,000, and the minimum lot for participation was $ 500,000. The bonds were placed until 2026 with interest payments every six months. The first payment is scheduled for September 2021.

 

One of the essential conditions for issuing bonds is the possibility of purchasing Telegram shares at a 10% discount from the market price if Telegram LLC conducts an initial placement of its securities on the exchange.

The bond placement allowed Telegram to raise money, but remain independent of the individuals and companies that lent money. None of the investors received a stake in the company, their interest lies only in receiving payments every six months with a guaranteed return of funds after five years, as well as in the potential opportunity to purchase Telegram shares at a significant discount.

The funds raised will be spent on payments to investors of the unlaunched TON blockchain platform, as well as on the development of Telegram. It is known that Pavel Durov maintains Telegram mainly with personal funds received from the sale of his share in the social network VKontakte. The messenger is still not monetized in any way, there are no paid features, an advertising platform and any services that would be subject to commissions. Soon Telegram will see monetization through advertising and donations. The messenger will earn commissions for placing ads through an advertising platform that will launch later this year.