Sunday, April 11, 2021
  • About
  • Advertise
  • Careers
Scoftware Magazine
  • Home
  • Politics
  • Business
  • Culture
  • Opinion
  • Lifestyle
  • Entertainment
  • Login
No Result
View All Result
Scoftware Magazine
Home Tech

Abu Dhabi state fund invests in Telegram messaging app

Jaleel M. by Jaleel M.
March 23, 2021
in Tech
0
Abu Dhabi state fund invests in Telegram messaging app
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter


DUBAI :
Abu Dhabi state fund Mubadala Investment Co and Abu Dhabi Catalyst Partners, part-owned by Mubadala, said on Tuesday they had invested a combined $150 million in messaging app Telegram.

Mubadala invested $75 million in five-year, pre-initial public offering (IPO) bonds of Telegram, while Abu Dhabi Catalyst Partners invested a further $75 million.

“Telegram’s user base has reached a critical mass that places it amongst global tech giants,” Mubadala executive Faris Sohail Faris al-Mazrui said in a statement.

“Telegram is well-positioned for an inflection point that will transform it into a leading global technology company.”

Telegram, along with messaging app Signal, have seen an increase in users this year amid privacy concerns with larger rival Facebook-owned WhatsApp.

Launched in 2013, Telegram has 500 million monthly users, according to Abu Dhabi Catalyst Partners.

Telegram, already headquartered in the United Arab Emirates, will open an office in Abu Dhabi following the new investment, Mubadala said.

Abu Dhabi Catalyst Partners is a Mubadala joint venture with U.S. investment company Falcon Edge Capital.

Mubadala, which manages more than $230 billion in assets, is UAE’s second-biggest state investor after Abu Dhabi Investment Authority.

Both have invested in technology, with Mubadala contributing $15 billion to SoftBank’s $100 billion Vision Fund in 2017.

Mubadala last year bought a 1.85% stake in Reliance Industries’ digital unit, Jio Platforms, for $1.2 billion.

Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.



Source link

Related posts

What happens to your account when your device gets stolen or lost

What happens to your account when your device gets stolen or lost

April 10, 2021
Personal data of 50 crore LinkedIn users leaked online

Personal data of 50 crore LinkedIn users leaked online

April 10, 2021
Previous Post

Zoom wants you to zoom even when using other companies’ apps

Next Post

Cyberattacks on remote work infrastructure continue to rise in 2021

Next Post
Cyberattacks on remote work infrastructure continue to rise in 2021

Cyberattacks on remote work infrastructure continue to rise in 2021

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

LINDSAY ELL’S NEW SONG “WORKIN’ OUT” RELEASED TODAY; FIRST MUSIC FROM HIGHLY ANTICIPATED PODCAST MUSICAL, MAKE IT UP AS WE GO

LINDSAY ELL’S NEW SONG “WORKIN’ OUT” RELEASED TODAY; FIRST MUSIC FROM HIGHLY ANTICIPATED PODCAST MUSICAL, MAKE IT UP AS WE GO

6 months ago
The New Faces of Pride: The Politician’s Theo Germaine on Being an Ally, Passing the Mic and More

The New Faces of Pride: The Politician’s Theo Germaine on Being an Ally, Passing the Mic and More

10 months ago
Will the virus claim a political victim in Beijing’s party boss?, East Asia News & Top Stories

Will the virus claim a political victim in Beijing’s party boss?, East Asia News & Top Stories

10 months ago
Coronavirus: WHO urges nations to join global shared vaccine effort, Europe News & Top Stories

Coronavirus: WHO urges nations to join global shared vaccine effort, Europe News & Top Stories

8 months ago

FOLLOW US

  • 85 Followers
  • 29.5k Followers
  • 113k Subscribers

BROWSE BY CATEGORIES

  • Business
  • Culture
  • Entertainment
  • Lifestyle
  • Music
  • National
  • News
  • Opinion
  • Politics
  • Sports
  • Tech
  • Travel
  • World News

BROWSE BY TOPICS

2018 League Balinese Culture Bali United Budget Travel Champions League Chopper Bike Doctor Terawan Istana Negara Market Stories National Exam Visit Bali

POPULAR NEWS

  • Kris Jenner Spills Details About Her Sex Life With Corey Gamble: Watch

    Kris Jenner Spills Details About Her Sex Life With Corey Gamble: Watch

    0 shares
    Share 0 Tweet 0
  • Common Saints Release New Single “Idol Eyes”

    0 shares
    Share 0 Tweet 0
  • Sam Heughan & Graham McTavish Are Men in Kilts for Travel Show

    0 shares
    Share 0 Tweet 0
  • KRISTIN LASH & JAKOB GREY Team Up On “Sleeping With The Lights On”

    0 shares
    Share 0 Tweet 0
  • SEVENTEEN REVEALS PROMOTION SCHEDULE FOR ; SEMICOLON

    0 shares
    Share 0 Tweet 0
  • About
  • Advertise
  • Careers

© 2020 Scoftware.com

No Result
View All Result
  • Home
  • Politics
  • Business
  • Culture
  • National
  • Sports
  • Lifestyle
  • Travel
  • Opinion

© 2020 Scoftware.com

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Terms and Conditions - Privacy Policy