Abu Dhabi-based Mubadala Investment Company has ploughed $75 million into social media platform Telegram, with Abu Dhabi Catalyst Partners investing a further $75m in the technology.
Telegram is the brainchild of brothers Pavel and Nikolai Durov, and was initially launched in 2013 as a secure messaging app using end-to-end encryption. It has since evolved into a fully-fledge social media platform.
Faris Sohail Faris Al Mazrui, head of Mubadala’s Russia and CIS Investment Program, said: “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.”
Telegram, with its global headquarters in the UAE, has become one of the 10 most downloaded apps in the world with over 500 million monthly active users.
CEO Pavel Durov said: “We are honoured by the $150m investment into Telegram from Mubadala and Abu Dubai Catalyst Partners. We look forward to developing this strategic partnership to continue our growth in the MENA region and globally.”
Over the past 12 months, Mubadala has made a number of global technology investments in category leaders including the autonomous driving technology company Waymo, AliExpress and Jio Platforms.
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