News24

Saudi prince invests $300m in Twitter

2011-12-19 16:13

Dubai - Saudi billionaire Prince Alwaleed bin Talal says he and his investment company are investing a combined $300m into the micro-blogging site Twitter.

Alwaleed said on Monday the joint investment with his Kingdom Holding Company represents an interest in investing "in promising, high-growth businesses with a global impact".

Twitter allows users to send short messages of up to 140 characters. It has been instrumental in connecting protesters and relaying on-the-ground developments during this year's Arab Spring uprisings.

Alwaleed's KHC is a major shareholder in Citigroup and holds stakes in other large stakes in other western giants, including Apple and Rupert Murdoch's News Corporation.

Comments
  • Lynton - 2011-12-19 16:31

    Ag...here come the ad's on twitter :(

  • seymore.butt - 2011-12-19 16:34

    poor Saudis....no longer be able to spread the revolution through the media...if you can't control it..buy it!

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