Mubadala and Abu Dhabi Catalyst Partners invest $150 million in social media platform Telegram

Mubadala and Abu Dhabi Catalyst Partners invest $150 million in social media platform Telegram

James Munce, CFO and COO of Abu Dhabi Catalyst Partners, said: “Over the past 7 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 centered 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.

“ADCP strives to partner with businesses that demonstrate strong growth trajectories globally, and that can bolster an evolving technology ecosystem in Abu Dhabi and the ADGM. We aim to use our resources to work hand-in-hand with management teams towards catalyzing leading platforms in different industries at the cutting edge. We see a very attractive opportunity to do this with Telegram.”