Telegram Gets $150 Million Investment From Abu Dhabi State Fund
Telegram Gets $150-Million Investment From Abu Dhabi State Fund
Telegram saw an increase in users this year amid privacy concerns with larger rival WhatsApp.
By Reuters | Updated: 23 March 2021 16:24 IST
Telegram is well-positioned for an inflection point that will transform it into a leading global company
Telegram have seen an increase in users this year
Launched in 2013, Telegram has 500 million monthly users
Telegram will open an office in Abu Dhabi following the new investment
Abu Dhabi state fund Mubadala Investment and Abu Dhabi Catalyst Partners said they had invested a combined $150 million (roughly Rs. 1,090 crores) in Telegram.
Mubadala invested $75 million (roughly Rs. 540 crore) in five-year, pre-initial public offering (IPO) bonds of Telegram, while Abu Dhabi Catalyst Partners invested a further $75 million (roughly Rs. 540 crore).
"Telegram's user base has reached a critical mass that places it amongst global tech giants," Mubadala executive Faris Sohail Faris al-Mazrui said in a statement.