Telegram raises billion dollars from investors for further growth

Chat app Telegram has raised a billion dollars by selling convertible bonds, which can be converted into shares after an IPO. Telegram receives 150 million dollars from investors from the United Arab Emirates.

According to Telegram founder Pavel Durov, the company has raised more than a billion dollars from the sale of the bonds. The money would come from major investors worldwide. Durov argues that with the money Telegram can continue to grow and remain independent. The investment money should also make it possible to set up the revenue model that Telegram presented in December.

Two investment companies from Abu Dhabi are each investing $75 million in Telegram. Mubadala Investment Company and Abu Dhabi Catalyst Partners announced this in a press release. According to Reuters, Telegram will set up a new office in Abu Dhabi as a result of the investment. The Telegram team already operates from an office in the United Arab Emirates.

In December, Durov announced that Telegram will be getting paid features and that ads will be shown in channels. According to the founder, this is necessary to continue developing the chat app and to keep it independent. Telegram will remain free, and face-to-face and group chats will have no ads. The service has more than half a billion monthly active users.