Menu
 
 
 

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

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

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.

The Author

<a href="/latest_stories/all/all/3" rel="author">Shane McGlaun</a>
Leading our review center, Shane McGlaun (Google) knows technology inside out. His extensive experience in testing computer hardware and consumer electronics enable him to effectively qualify new products and trends. If you want us review your product, please contact Shane.
Shane can be contacted directly at shane@i4u.com.

 

Leave a Comment

Watch all Super Bowl 50 Ads released online

Watch Now

You May Also Like

Advertisement

Share this Story

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

Read the Latest from I4U News