12/19/2011

Twitter gets $300m Saudi cash injection


Saudi billionaire Prince Alwaleed bin Talal's Kingdom Holding Company has announced a $300m (£194m) investment in social media site Twitter.
The investment follows "several months of negotiations", a company statement to the Saudi stock exchange said.
The prince, who is one of the world's richest men, owns stakes in many well-known companies, including News Corporation.
He also has investments in a number of media groups in the Arab world.
"Our investment in Twitter reaffirms our ability in identifying suitable opportunities to invest in promising, high-growth businesses with a global impact," Prince Alwaleed said.