Messaging platform Telegram issued $270 million in bonds this week to fund its growth until “we reach the break-even point,” CEO Pavel Durov announced Tuesday. The platform is not yet profitable and has rising expenses due to its “massive growth,” Durov said. It’s onboarding 2.5 million new users a day and earlier this year hit 800 million monthly active users. “I personally bought about a quarter of the new Telegram bonds, investing tens of millions into Telegram’s growth. This comes in addition to the hundreds of millions I spent over the last 10 years to keep Telegram operational,” Durov said. The alternative messaging platform has long been a favorite among crypto enthusiasts. That’s partly attributable to the company’s defunct efforts to launch its own crypto token, GRAM.
