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Abu Dhabi players want in on the messaging platform games, targeting TelegramMENA

Abu Dhabi players want in on the messaging platform games, targeting Telegram

Two major Abu Dhabi investors, Mubadala Investment Company and Abu Dhabi Catalyst Partners have injected some cash into social media platform Telegram — by “some” we’re being modest at $150m!

Mubadala (which, btw, has been investing in lots of tech companies lately) put in $75m in exchange for five-year pre-IPO convertible bonds, while Abu Dhabi Catalyst Partners invested the remaining half.

Telegram is a secure-messaging app that uses end-to-end encryption and has quickly become one of the most downloaded apps in the world (goodbye, Whatsapp?). It currently has over 500 million monthly active users and runs its global operations out of the UAE.

why it matters
Telegram's growth over the past seven years proves it has the potential to become one of the world's leading tech companies. Growing the company even further can have a trickle effect on the UAE startup ecosystem by bringing more tech talent and foreign investment opportunities to the country (better brush up your resume!).