Telegram is an instant messaging app that announced a partnership to integrate xAI's Grok AI into its platform. The deal includes a $300 million cash and equity investment from xAI and a 50% share of subscription revenue sold through Telegram. Telegram is concurrently pursuing a $1.5 billion bond offering backed by BlackRock, Mubadala and Citadel to repurchase earlier bond debt from 2021. The company reported roughly 1 billion customers and posted a $540 million profit on $1.4 billion in revenue in 2024. Telegram developed the TON Network token, which rose about 18.5% after the announcement, moving from $3.28 to $3.55. Near-term plans therefore include AI integration and balance-sheet management via the bond raise. Telegram is a chat app used by over 900 million people and is headquartered in Dubai. The company has introduced multiple monetization streams, including ads, username sales on the blockchain, premium subscriptions, and paid conversions of personal accounts to business accounts. Founder Pavel Durov has said Telegram aims to be profitable next year and is exploring an option to go public. Telegram secured $330 million in fresh capital through bond sales in an oversubscribed offering with favorable terms. The bonds carry a current yield of 7.7% and were issued at a price of $91, up from $78 on the prior issue. The bonds mature in 2026 or upon Telegram's IPO, whichever comes earlier. Telegram is a messaging app used by over 800 million users each month. It has grown rapidly, adding over 300 million users in the past two and a half years and attracting about 2.5 million new signups per day. Telegram has kickstarted monetization in recent years, including a subscription service, but remains unprofitable and is seeking financing to move toward break-even. The company raised $210 million through recent bond sales and previously raised over $1 billion in debt via 5-year pre-IPO convertible bonds more than two years ago. Telegram has been exploring a public listing for several years and even attempted a token sale that was blocked by the SEC, but weak public markets have forced it to continue relying on private investors. Management, including founder Pavel Durov who personally bought about a quarter of the new bonds, is focused on improving finances and achieving self-sufficiency. Telegram is a messaging platform that recently passed roughly 500 million monthly active users and positions itself on privacy and user experience. Its product roadmap includes features such as voice chats 2.0, one-to-many video broadcasts and creator-focused monetization tools (subscriptions, content sales, commission models). Founder Pavel Durov has pledged non-intrusive monetization, rejecting use of user data for targeted ads while considering ads for large public channels and other creator revenue streams. Historically the company was largely bootstrapped by Durov (who realized about $300M from selling his VK stake in 2015) and earlier token/blockchain efforts (TON) were derailed by U.S. regulators with most funds refunded. To finance expansion and execute its monetization plan Telegram has pursued debt rather than equity, selling pre-IPO convertible bonds to institutional backers. The company is also deepening its regional presence in the Middle East, planning an Abu Dhabi office while building out from a Dubai base. Telegram operates a widely used messaging app and is developing the TON blockchain and associated services. The company plans distributed file storage, a proxy/decentralized-VPN service, dApp and smart-contract support, and payments/micropayments. An early TON MVP was scheduled for Q2 2018, a Telegram wallet for Q4 2018, and broader TON services targeted for 2019. Telegram had been self-funded by founders Pavel and Nikolai Durov until this outside financing. Its app is widely used across the crypto community and by many ICO projects. The company briefly had its iOS app removed by Apple earlier in the year after content-moderation issues were reported.

Total raised

$1.9B

Funding rounds

5

Latest round

Equity

Latest activity

May 2025