Saudi prince invests $300 million in Twitter

entropy13 · 12-21-2011, 01:47 AM

DUBAI, United Arab Emirates (AP) -- Saudi billionaire Prince Alwaleed bin Talal and his investment company said Monday they are investing a combined $300 million into Twitter, giving the microblogging site a cash boost as it looks to entice more users and paying advertisers.

The joint investment with Alwaleed's Kingdom Holding Co. follows months of negotiations and represents a "strategic stake" in Twitter, according to the Riyadh, Saudi Arabia-based investment firm. It wasn't clear how much of Twitter the prince will control.

Alwaleed, a nephew of the Saudi king, ranks 26th on Forbes' list of the world's richest people. He has a history of investing in media and technology companies, and said the deal represents an interest "in promising, high-growth businesses with a global impact."

Full article here.

12-21-2011, 01:47 AM	#1
entropy13 Senior Member Join Date: May 2009 Location: Philippines Posts: 4,459 Thanks: 79 Thanked 4,459 Times in 1,495 Posts Dislikes: 21 Disliked 172 Times in 145 Posts	Saudi prince invests $300 million in Twitter DUBAI, United Arab Emirates (AP) -- Saudi billionaire Prince Alwaleed bin Talal and his investment company said Monday they are investing a combined $300 million into Twitter, giving the microblogging site a cash boost as it looks to entice more users and paying advertisers. The joint investment with Alwaleed's Kingdom Holding Co. follows months of negotiations and represents a "strategic stake" in Twitter, according to the Riyadh, Saudi Arabia-based investment firm. It wasn't clear how much of Twitter the prince will control. Alwaleed, a nephew of the Saudi king, ranks 26th on Forbes' list of the world's richest people. He has a history of investing in media and technology companies, and said the deal represents an interest "in promising, high-growth businesses with a global impact." Full article here. __________________ "Sir, we're surrounded!" "Good! We can attack in any direction!" ------- "Io credo ch'ei credette ch'io credesse." - "I think perhaps he thought that I was thinking." ------- "I used to be indecisive, but now I'm not sure."

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