Telegram Attracts $1.7 Billion Investment Through Convertible Bond Sale
Telegram, the popular messaging platform, has raised $1.7 billion through a convertible bond offering that closed on May 28. The bonds carry a 9% coupon and attracted significant interest from global investors, including BlackRock and Abu Dhabi’s Mubadala Investment Company.
According to Bloomberg, a substantial portion of the proceeds—approximately $955 million—will be used to repay debt from a previous bond issuance maturing in 2026. The remaining $745 million represents new capital, which will be allocated to support Telegram’s ongoing operations and future growth initiatives.
The company’s strong appeal to investors is driven in part by its position as a crypto-friendly platform, widely adopted by the global digital asset community. Telegram continues to expand its features and international footprint, reinforcing its role in the broader push toward mainstream adoption of decentralized technologies.
As part of the offering, participating investors have secured the option to acquire shares in a potential future initial public offering (IPO) at a 20% discount, signaling confidence in Telegram’s long-term market potential.
Telegram’s Tentative Partnership with Elon Musk’s xAI
The bond sale comes amid a series of strategic developments for Telegram, including a potential partnership with Elon Musk’s artificial intelligence venture, xAI—the company behind the chatbot Grok.
According to a May 28 post on X (formerly Twitter) by Telegram CEO Pavel Durov, the two companies reached a tentative agreement that would grant Telegram users one year of access to Grok. In exchange, Telegram is set to receive $300 million in a mix of cash and equity from xAI, along with 50% of revenue from xAI subscriptions sold through the Telegram platform.
However, Musk later denied that a formal agreement had been finalized. Durov clarified that while the terms have been discussed, the official signing is still pending, leaving the deal in a preliminary phase.
