Telegram raises USD 1 bln in new funding, with USD 150 mln from Abu Dhabi investors

News Wireless Global 23 MAR 2021
Telegram raises USD 1 bln in new funding, with USD 150 mln from Abu Dhabi investors

The messaging app Telegram has received a new USD 150 million from UAE investors. Mubadala Investment Company, the Abu Dhabi sovereign investor, and Abu Dhabi Catalyst partners have each invested USD 75 million in the company. Telegram co-founder Pavel Durov said the investment is part of a wider bond issue in which the company raised USD 1 billion from multiple investors.

Mubadala said the investment takes the form of 5-year pre-IPO convertible bonds issued by Telegram. The new investors also plan to work with the company on collaboration opportunities and strengthening Abu Dhabi’s ecosystem of innovative companies. Telegram already has its global headquarters in the UAE.

Mubadala has been expanding its investments in the tech sector in recent years. Over the past 12 months, it has invested in the autonomous driving technology company Waymo, AliExpress and Jio Platforms, among other companies. 

Telegram said at the end of last year that it would start looking at ways of monetising its platform. In January it passed half a billion users, driven by interest in alternatives to Facebook and WhatsApp and demand for online communications during the coronavirus crisis. 

Categories:

Mobile

Companies:

Telegram

Regions:

Global

Tags:

Messaging, Financial funding

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