Saudi Prince pumps $300 million into Twitter

Twitter just got a massive cash infusion from an interesting source. A press release from Kingdom Holding Company announced today that the company and its founder, Saudi Arabian Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, will put in a combined $300 million investment into Twitter. The press release said the investment was made after "several months of negotiations and comprehensive due diligence". The investment is actually based on buying stock from previous Twitter shareholders.

The New York Times reports that the new investment is worth about 3 percent of what Twitter itself is expected to be worth. In the press release, Prince Alwaleed said, "Our investment in Twitter reaffirms our ability in identifying suitable opportunities to invest in promising, high-growth businesses with a global impact."

Twitter recently launched an new update to its user interface as well as its many Twitter mobile apps. The company still gets most of its revenue via running ads on the web site and its apps, however the privately owned company keeps most of its financial information to itself so there's no word if Twitter is actually profitable. There's also no word if there are any plans for Twitter to launch a public stock offering to raise additional money.

Report a problem with article
Previous Story

Google reveals 2011's rising search results

Next Story

Single juror prevented verdict in Novell-Microsoft lawsuit


Commenting is disabled on this article.

I hope twitter will invest some of this money in their security department. It's like hacking a twitter account is as easy as taking a chocolate from a child.

PsYcHoKiLLa said,
Call me skeptical but he wouldn't be doing it so they can block people posting against the powers that be in Saudi Arabia?

Don't think so. He's one of the "cool and easy going" princes in Saudi Arabia, and actually is loved by the people there!
The thing is, if you keep track of the Arabic usage for twitter you'd notice that twitter has became a massive huge hit in Saudi Arabia in 2011. Nothing to arrange protests or whatever we'd expect. But just that the people and the teens there are finding it "the new cool thing". This prince happens to be one of those who follows Saudi trends but has way more money than the average Saudi.
And yep, I lived there for 24 years

FMH said,
He also has a massive investment in Apple Inc.

yep and Motorola - HP - ebay - time Warner - Kodak - Citigroup -samba and many others

neufuse said,
waste of money, but hey apparently he has a lot to waste, cant wait for twitter to fail now...

you want twitter to fail because a business man invest in twitter =/