Saudi Prince insvests $300 mn in Twitter

Saudi Arabian Prince Alwaleed Bin Talal has invested USD 300 million into social networking site Twitter. He justified this by saying that Twitter is increasingly became popular in Arab world. “We believe that social media will fundamentally change the media industry landscape in the coming years,” the Kingdom Holding's executive director of private equity and international investments, Ahmed Reda Halawani, said in a statement.

It should be noted that Twitter hs more than 100 million users and is one of the few prominent internet companies around the landscape. Social networking sites have recently became very popular and are attracting billions of users. These websites have a million dollar assets in their name. Alwaleed is now the owner of 3% stake in Twitter and he has paid a whooping sum of $300mn for that . This was a result of series of negotiations between both the parties

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