July 18, 2024

The Social Media Messaging Podium Telegram gets huge investment worth $150Mn Mubadala, Abu Dhabi Catalyst partners

marketing-manager-4883766_1280_Telegram_ooceey_Pixabay.com_The Social Media Messaging Podium Telegram gets huge investment worth $150Mn Mubadala, Abu Dhabi Catalyst partners
Image Credit: - ooceey/Pixabay.com

The Social media Messaging podium Telegram, that is globally headquartered and positioned in UAE, has in excess of 500 million active Clients globally and as well as became one amongst the 10 most downloaded apps.

The firm Telegram has evolved as a full-fledged social media podium and launched initially as well as the innovative thought-focus podium of the brothers and its founders Pavel and Nikolai Durov in the year 2013 as a secured messaging app that utilizes secured as well as end-to-end encrypted date to the fore.

The Abu-Dhabi backed sovereign investor Mubadala Investment firm as well as Abu Dhabi Catalyst Partners have jointly invested a net overall combined $150Mn investment worth in Social Media Podium Telegram.

The rising phenomenon of Telegram as one of the core 10 top downloaded apps globally with an active base of over 500 million monthly active subscribers has made it to have a credible base in Middle Eastern territory. The firm will be sooner commencing up an office space within the Abu Dhabi’s Global Market as a great launchpad for its global progression.

The head of Mubadala’s Russia as well as CIS Investment programme, Faris Sohail Faris Al Mazrui, stated that: “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.”

He further added that: “Telegram’s clientele base has touched a vital mass that places it amongst global tech giants.”

The founder as well as firm’s CEO of Telegram, Pavel Durov, further also elaborated that: “They are indeed 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.”

The CFO as well as COO of the Abu Dhabi Catalyst Partners, James Munce, further added that: “Over the past seven years, Telegram usage has grown from zero to 500 million monthly active users. This demonstrates the management team’s unshakeable dedication to building a platform centred around privacy and user experience. We believe this creates a strong value proposition and will be a focal point for social media platforms and a new era of messaging.”

Within the subsequent years to follow as well as in recent past, Mubadala has been mounting its focus on the technology arena via a strategy of direct and fund-of-fund investing from initial-stage of their venture capital to progress.

Within the past one-year time frame, Mubadala has build up excellent rapport and have alliances with numerous global technology reserves in group leaders inclusive of the autonomous driving technology firm Waymo, AliExpress as well as Jio Platforms.

In fact, within the Jio Platform the preceding year, the giant firm Mubadala has invested $1.2Bn for progressing digital tech kickstart.



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