Skip to comments.Saudi prince invests $300M for 3% stake in Twitter
Posted on 12/19/2011 8:26:47 AM PST by SeekAndFind
RIYADH (Zawya Dow Jones) -- Saudi Prince Alwaleed bin Talal and his Kingdom Holding Co. Monday announced their purchase of a $300 million stake in Twitter, calling it a strategic investment in a company they said is remaking the media landscape.
The Twitter purchase represents the prince's drive "to invest in promising, high-growth businesses with a global impact," an emailed statement from Kingdom Holding quoted the Saudi prince as saying.
Prince Alwaleed, rated by Arabian Business magazine as the Arab world's richest man, with more than $21 billion in wealth in 2011, had been cited in news reports since October as pursuing a purchase of Twitter shares from one of the co-founders of the social media company.
The $300 million investment represents a more than 3% stake in the microblogging website, which was at late summer valued at $8 billion.
"Social media will fundamentally change the media industry landscape in the coming years. Twitter will capture and monetize this positive trend," Ahmed Halawani, executive director of private equity and international investments at Kingdom Holding, said in the statement.
Prince Alwaleed, who owns 95% of Kingdom Holding, has focused his investments on banks, hotels and media companies, building sizable stakes in companies such as Citigroup Inc. (C), News Corp. (NWS), Apple Inc. (AAPL) and Time Warner Inc. (TWX). News Corp. owns Dow Jones & Co., publisher of this newswire and The Wall Street Journal.
(Excerpt) Read more at marketwatch.com ...
Question for Twitterbots: How does Twitter actually make money?
A fool and his money are soon parted - and its a miracle they even got together in the first place.
RE: How does Twitter actually make money?
Here’s an article that might help :
Think he is doing it for capitalistic reasons or fascist ones? I think he wants censor/off/tracking capabilities. I don’t really care as I may be a twit but I have never and will never tweet.
However, he will pay it in increments of only $140 at a time...
Thanks SeekAndFind, additional:
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