Black Friday Edition: Get Amazon's Best Black Friday 2015 Deals | Latest Black Friday Deals

Prince Alwaleed bin Talal and Kingdom Holdings buy $300M Chunk in Twitter

Dec 19 2011, 3:38pm CST | by , in News | Technology News

This story may contain affiliate links.

Prince Alwaleed bin Talal and Kingdom Holdings buy $300M Chunk in Twitter
/* Story Top Left 2010 300x250, created 7/15/10 */ google_ad_slot = "8340327155";
Buy twitter from Amazon Cyber Monday and Black Friday Now

$300 million worth of Twitter

Saudi royal Prince Alwaleed bin Talal has purchased a giant chunk of Twitter with his Kingdom Holding investment arm. The agreement gives the prince a $300 million strategic stake in Twitter and came after what those close to the deal are calling several months of negotiations.

The purchase by Alwaleed sent shares of Kingdom up 8.3% in local trading reports Business Week. “Kingdom realizes the importance of social networks like Twitter and their future growth prospects, and decided to benefit from this trend,” said Samer Darwiche, an analyst at Gulfmena Investments in Dubai.

Twitter as been considering an IPO for some time that is thought to raise as much as $10 billion for the micro blogging site. Twitter has confirmed the investment, but has offered no comment. Alwaleed is a big tech investor and has holdings in Citigroup, GM, News Corp and Apple.

Leave a Comment

You May Also Like


Share this Story

Follow Us
Follow I4U News on Twitter
Follow I4U News on Facebook

Read the Latest from I4U News