Twitter got to open one of its presents a little early. HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud and Kingdom Holding Co, of which he is chairman, today announced a $300 million combined investment in the microblogging communication platform.
The investors said this represents a strategic stake in Twitter, and that it comes after several months of negotiations.
“We believe that social media will fundamentally change the media industry landscape in the coming years,” Ahmed Halawani, KHC executive director of Private Equity and International Investments said in a statement. “Twitter will capture and monetize this positive trend.”
Prince Alwaleed added: “Our investment in Twitter reaffirms our ability in identifying suitable opportunities to invest in promising, high-growth businesses with a global impact.”
He also reconfirmed his plans to launch his privately owned Alarab news channel, which will be managed by Jamal Khashoggi. Additionally, KHC is owner of approximately 7 percent of News Corporation’s Class B Common Stock.
Prince Alwaleed’s other media and entertainment investments include the Saudi Research and Marketing Group (SRMG), in which Kingdom Holding holds a 29.9 percent stake. Numerous Arab publications fall under the SRMG umbrella, as do publicity, publishing and other companies.
Related link:
Press release – http://tinyurl.com/6pazeq5
Photo of HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, used with permission
