Telegram founder Pavel Durov rejected a proposal by Western funds to invest in the messenger. Investors had valued the application at $30 billion.
A consortium of foreign funds had intended to buy 5-10% of Telegram, The Bell reports. The offer was sent last week, and the founder of the messenger has already announced its rejection.
According to The Information, Telegram could raise a $1 billion loan that could be converted into shares in the event of an IPO, which is “inevitable,” according to journalists. This would fund the company before it goes public and support the expansion of the app.
However, Durov himself said that he had not met with “banks and investors” himself, but that his team was in fact receiving offers. Getting a loan for the messenger is one way to “remain fully independent and true to its values while implementing its monetization strategy,” the businessman added.