Deadline for Durov: looking for $ 1 billion for Telegram due to upcoming settlements with TON investors

Pavel Durov has been actively discussing raising debt financing for Telegram with banks and investors for several months, reports The Information, citing sources.

The messenger accounts are growing, in April there is a deadline for repaying the debt to investors of the closed TON blockchain project. In addition, the search for money was accelerated by the fact that the Telegram audience began to grow sharply against the background of the renewal of the WhatsApp user agreement. In just a few days of the first week of January, the increase amounted to almost 25 million people.

Durov plans to raise about $ 1 billion, says the source of the publication, and adds that there is a possibility that plans will change. Funds for a possible IPO will be converted into shares.

A messenger representative explained to The Information that a specific decision on the source of funding has not yet been made, Telegram does not intend to assume obligations to investors, providing for a merger, sale or public listing.

So far, Telegram is not generating income, it is financed mainly from Durov’s personal funds, but in 2021 the messenger’s monetization will begin. The launch of paid features has already been announced, and its own advertising platform will be created for Telegram channels.