Global messaging app Telegram has secured $150 million in investment from Abu Dhabi-based sovereign investor Mubadala Investment Company, Abu Dhabi Catalyst Partners as the company plans to continue its growth in the region and around the world. Mubadala, Gulf Business reports, invested $75 million in 5-year pre-IPO convertible bonds, while Abu Dhabi Catalyst Partners invested the remaining $75 million.
“Telegram’s user base has reached a critical mass that places it amongst global tech giants,” said Faris Sohail Faris Al Mazrui, head of Mubadala’s Russia and CIS Investment Program.
“We believe that Telegram is well-positioned for an inflection point that will transform it into a leading global technology company. The company represents a very promising investment opportunity for Mubadala and will sit well within our wider portfolio of pioneering companies looking to transform their respective industries. Our investment in Telegram establishes a strategic partnership for us to further strengthen Abu Dhabi’s technology ecosystem as well as bring new levels of tech skills and talent to the capital.”
The messaging app, with global headquarters in the UAE, aims at continuing its growth in Middle East and North African (MENA) region and globally at the time when subscriptions are on the rise. Started in 2013 by brothers Pavel and Nikolai Durov, Telegram now boasts over 500 million monthly active users and is among the 10 most downloaded apps in the world.
Messaging app Telegram lands $150m investment from Abu Dhabi-based sovereign investor Mubadala Investment Company
