Saudi Prince Invests $300 Million in Twitter

POSTED December 19, 2011

SAN FRANCISCO -- Saudi Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, and Kingdom Holding Company (KHC), have made a combined investment of $300 million in Twitter. This investment was the result of several months of negotiations and comprehensive due diligence and represent a strategic stake in Twitter.

Prince Alwaleed is a billionaire and one of the world's richest men. “Our investment in Twitter reaffirms our ability in identifying suitable opportunities to invest in promising, high-growth businesses with a global impact,” the Prince said in a statement.

Eng. Ahmed Halawani, KHC Executive Director of Private Equity and International Investments commented: “We believe that social media will fundamentally change the media industry landscape in the coming years.Twitter will capture and monetize this positive trend.”

Twitter is a communication platform that instantly connects people everywhere to what`s most meaningful to them. At the heart of Twitter are small bursts of information called Tweets, which are 140 characters or less in length. With 250 million Tweets per day and more than 100 million active users, there is something for everyone on Twitter, no matter what you`re interested in or where you are in the world. Twitter can be accessed on the web, on smartphones and on the simplest of feature phones.

Prince Alwaleed has a strong presence and influence in media through his investments in media and entertainment in the Arab world, and beyond like the Saudi Research and Marketing Group (SRMG), in which Kingdom Holding holds a 29.9% stake. The publications that fall under SRMG include Asharq Al Awsat, Al Eqtisadiah, Arab News, Hia magazine, Al Majalla magazine, Arrajol magazine and Sayidati magazine. Furthermore, other entities that fall under SRMG are Al Khaleejiya for Publicity Advertising and Public Relations and Al Madina Printing and Publishing Company. Furthermore, KHC is owner of approximately 7 percent of News Corporation’s Class B Common Stock.

KHC is one of world's largest and most diversified private investment companies with holdings in a large number of Saudi Arabian, Middle Eastern and International companies. In particular, KHC is one of the world's leading hotel investors, with a portfolio of hotels and majority interests in international hotel management companies.

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