Weekend Venture: Durov Teaming Up with Musk to Revive Rocketbank Initiative
Fresh Spin
Scandalous Scoops
- Telegram, the popular messaging app, is snagging massive investments! Founder Pavel Durov revealed $1.7 billion in bonds issued, matured until June 2030. Roughly $950 million went toward debt repayment, and the remainder was fresh financing. Durov marveled at the overwhelming investor interest in his channel. He initially aimed to raise $1.5 billion but surpassed expectations. This news comes as Telegram's 2024 revenue skyrocketed to a whopping $1.4 billion, yielding a hefty profit of $540 million.
- Children and family-focused brand NappyClub struck a deal with 3 Streams fund, signing a convertible loan agreement. The agreement promises an initial $20 million investment, with the potential to reach up to $300 million. This investment will fund business expansion, product development, and marketing strategy enhancements. The ambitious aim is to break into the top three market leaders in their sector and introduce digital childcare services, as well as bolster educational projects. 3 Streams' managing partner, Fedor Yakolev, sees great synergy with the fund's expertise and values. In September 2024, the company already issued bonds worth 150 million rubles, valid for three years. According to SPARK data, their 2024 revenue stood at 740 million rubles, with a profit of 21.8 million rubles. The main shareholders are Alexei Komarov (33.23%), Roman Kvinitkadze (30.44%), and Sergei Golovkov (26.32%).
Additional Reads
- Telegram Botique, an e-commerce platform for SMEs, successfully raised 5.3 million rubles through brainbox.VC's crowdfunding platform. The funds will be utilized for marketing, team expansion, and infrastructure expenses. To learn more about Telegram Botique, check out our previous article on this innovative service.
- Pavel Durov, the illustrious Telegram founder, announced a partnership between the messaging giant and Elon Musk's AI company, xAI. Despite their efforts to collaborate, no official contracts have been signed yet. Musk owns the chatbot, Grok, which provides features like message editing, moderation, and avatar generation for Telegram Premium users. To discover more about Grok and its anticipated features, revisit our coverage of this extraordinary collaboration.
- Online household service Airo secured investments from "T-Investments" and "ST Capital," though the deal amount remains undisclosed. These funds will bolster the IT team, launch new services, and accelerate client acquisition. For additional insights into Airo's ascension, consult our archives for in-depth information about this impressive startup.
Groundbreaking Launches
- Venture investor Alexey Basov and broker Finam are launching a fund for IT companies preparing for IPO, with a planned volume of 10-12 billion rubles. This fund aims to attract tens of thousands of investors, with exchange-traded shares and a vibrant secondary market. The focus will be on companies planning to go public in the next three to five years. Stay tuned for updates on potential portfolio participants and their incredible journey to the stock market!
- Rocketbank, a digital banking solution, is relaunching after a hiatus of four years. Operating under Sovkombank's license, Rocketbank plans to re-enter the scene in July 2025, led by Anton Zaharov and Robert Sabiryanov. Their offerings will encompass debit cards, deposits, savings accounts, personal loans, and credit cards, as well as projects catering to dining and shopping experiences. For more details on Rocketbank's storied past and ambitious comeback, check out our comprehensive article on this intriguing venture.
Litigious Proceedings
- The Moscow FNS Inspectorate initiated a lawsuit against the "Coffee House" coffee chain, accusing them of owing an undisclosed amount in unpaid taxes. Despite declaring bankruptcy, the company continues to generate revenue according to SPARK data, with a 17% drop in 2024 revenue to 1.55 billion rubles and a significant increase in profit to 121.5 million rubles.
Startling Stats
- Since the past three months, one-fifth of employees have returned to the office, facing increased workloads and stricter work requirements, according to a survey by Stape service. Half are feeling stressed due to various factors, such as concerns over workload without a raise, dissatisfaction with appraisals, and fears of layoffs or job loss to younger staff or AI. Make sure to take care of your mental health in these tough times!
In the world of finance and business, Telegram's technology-driven messaging app has successfully raised an additional $950 million in fresh financing, surpassing its initial goal of $1.5 billion, as announced by founder Pavel Durov. Meanwhile, family-focused brand NappyClub secured an initial $20 million investment from 3 Streams fund, eyeing potential expansion and digital childcare services with the aim to break into the top three market leaders in their sector. This investment could reach up to $300 million, highlighting the significant interest in technology-centric ventures.
