Abu Dhabi State finance Mubadala Investment Co and also Abu Dhabi Catalyst Partners, part-owned from Mubadala, stated they’d spent a combined $150 million in messaging program Telegram.
Mubadala spent $75 million in pre-tax, pre-initial public offering (IPO) bonds of Telegram, whereas Abu Dhabi Catalyst Partners spent an additional $75 million. “Telegram’s consumer base has reached a critical mass which puts it among global technology giants,” Mubadala executive Faris Sohail Faris al-Mazrui stated in a declaration.
“Telegram is well-positioned to an inflexion point which could change it into a major international technology firm.” Telegram, together with messaging program Signal, have observed a rise in users that this season amid privacy issues with bigger rival Facebook-owned WhatsApp.
Both have spent in engineering, together with Mubadala donating $15 billion into SoftBank’s $100 billion Vision Fund in 2017.