Prince Alwaleed bin Talal's Kingdom Holding Company has announced that it has invested US$300mn in social media site Twitter.
A strategic stake
According to a company statement: "This investment was the result of several months of negotiations and comprehensive due diligence and represent a strategic stake in Twitter."
Prince Alwaleed commented: "Our investment in Twitter reaffirms our ability in identifying suitable opportunities to invest in promising, high-growth businesses with a global impact."
Twitter effect on media
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."