Twitter receives $300 million investment boost from Saudi Prince

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HRH_Waleed.jpgTwitter have confirmed a new $300 million investment has been made into their micro-blogging social network by Saudi prince Alwaleed Bin Talal Bin Abdulaziz Alsaud.

A move that’s taken many web analysts by surprise, the Saudi royal is founder and CEO of Kingdom Holding Company, and is one of the richest people in the world.

A statement from the prince’s people reveals that the investment came after “several months of negotiations and comprehensive due diligence”.

Alwaleed himself stated that: “Our investment in Twitter reaffirms our ability in identifying suitable opportunities to invest in promising, high-growth businesses with a global impact.”

Reports are now stating that a 3 percent stake in Twitter has been bought.

Kingdom Holding has numerous high profile tech investments, including eBay, Apple, AOL, Motorola and Amazon. They also hold a 7% stake in News Corp.

Via: Tech Crunch

Gerald Lynch