20 Dec '11, 11am

Saudi prince buys $300 million stake in Twitter - Yahoo! via @yahoosg

Saudi billionaire Prince Walid bin Talal and his Kingdom Holding Company announced a combined investment of $300 million in the social networking site Twitter, in a statement Monday. "Our investment in Twitter reaffirms our ability in identifying suitable opportunities to invest in promising, high-growth businesses with a global impact," Prince Walid said in the statement released on Kingdom Holding's website. The statement said that the investment was finalised after "several months of negotiations" and represented a "strategic stake" in the social networking site. Prince Walid, a media mogul and one of the world's richest men, in September announced plans to launch Alarab, a pan-Arab news channel, by 2012, saying the television network will promote freedom of speech. Social networking sites like Twitter and Facebook played a crucial role in spreading information and orga...

Full article: http://sg.news.yahoo.com/saudi-prince-buys-300-million-st...

Tweets

Saudi prince invests in Twitter

Saudi prince invests in Twitter

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