Saudi Prince Alwaleed Invests $300M in Twitter; Stake Values Company at ~$10B
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Saudi Prince Alwaleed bin Talal's Kingdom Holding has made a $300 million investment in Twitter, the group reported Monday.
Prince Alwaleed's investment gives him a 3 percent stake in the micro-messaging social platform. Though valued at nearly $8 billion towards the end of summer, the stake pegs Twitter's value closer to $10 billion.
Kingdom Holding executive director of private equity and international investments, Ahmed Halawani, said, "Social media will fundamentally change the media industry landscape in the coming years. Twitter will capture and monetize this positive trend."
Dow Jones notes that Kingdom Holding has notable positions in Citigroup Inc. (NYSE: C), News Corp. (Nasdaq: NWSA), Apple Inc. (Nasdaq: AAPL) and Time Warner Inc. (NYSE: TWX) as well.
Some have speculated that Twitter could file to go public in the later part of 2012.
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Prince Alwaleed's investment gives him a 3 percent stake in the micro-messaging social platform. Though valued at nearly $8 billion towards the end of summer, the stake pegs Twitter's value closer to $10 billion.
Kingdom Holding executive director of private equity and international investments, Ahmed Halawani, said, "Social media will fundamentally change the media industry landscape in the coming years. Twitter will capture and monetize this positive trend."
Dow Jones notes that Kingdom Holding has notable positions in Citigroup Inc. (NYSE: C), News Corp. (Nasdaq: NWSA), Apple Inc. (Nasdaq: AAPL) and Time Warner Inc. (NYSE: TWX) as well.
Some have speculated that Twitter could file to go public in the later part of 2012.
Get immediate access to market moving news and alerts with StreetInsider.com Premium - FREE TRIAL!
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