Telegram Raises Over $1 Billion to Finance Growth

The app's founder Pavel Durov confirmed the news.

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Entrepreneur Staff
2 min read
This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

Co-founder Pavel Durov announced that the encrypted messaging application, better known as Telegram, managed to raise more than a billion dollars in bonuses to help the app grow.

He even said that the bonds were sold to "some of the most important and competent investors in the world." In this way, the application wants to continue to remain true to its values and its independence.

Image: Гаянэ Манукян / Wikimedia Commons

In December, the company announced a "monetization strategy," which failed to launch payment services in 2021 with the same purpose: to finance growth. The fundraising did not work as well as a project with virtual currencies.

“As I said when I launched Telegran almost eight years ago, the ultimate goal is to become a financially sustainable project that can serve humanity for decades to come. Today's news is a further step towards that goal,” said the Russian businessman.

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