Feeds

Saudi prince opens wallet, buys $300m slice of Twitter

Stake bought with billionaire royal's loose change

Reducing security risks from open source software

Saudi prince and billionaire investor Alwaleed bin Talal has snaffled a $300m (£194m) stake in Twitter.

The prince, along with his investment vehicle Kingdom Holding Company (KHC), bagged the strategic stake after "several months of negotiations and comprehensive due diligence".

"Our investment in Twitter reaffirms our ability in identifying suitable opportunities to invest in promising, high-growth businesses with a global impact,” Prince Alwaleed said in a canned statement from KHC.

The company added that it believed social networking would change the media industry and Twitter could "capture and monetise this positive trend".

Both KHC and Prince Alwaleed, whose personal fortune is estimated at around $20bn, take a lot of interest in media and technology companies, counting investments in Apple, HP, eBay, Time Warner and the Walt Disney Company in their portfolios.

The firm also holds about a seven per cent share in News Corporation, making Prince Alwaleed the second largest investor in Rupert Murdoch's empire.

The cash injection comes just a few months after Twitter completed a funding round rumoured to have raised about $800m.

At the start of August, Twitter said on its blog that it had "an opportunity to expand Twitter's reach with a significant round of funding led by the venture firm DST Global, with the participation of several of our existing investors".

The micro-blogging site didn't expand on the numbers, but reports at the time suggested Russian investment company DST had ponied up $400m, with an additional $400m coming from the others.

Twitter has made no comments on Prince Alwaleed's modest purchase. ®

The Power of One eBook: Top reasons to choose HP BladeSystem

More from The Register

next story
NO MORE ALL CAPS and other pleasures of Visual Studio 14
Unpicking a packed preview that breaks down ASP.NET
Cheer up, Nokia fans. It can start making mobes again in 18 months
The real winner of the Nokia sale is *drumroll* ... Nokia
Mozilla fixes CRITICAL security holes in Firefox, urges v31 upgrade
Misc memory hazards 'could be exploited' - and guess what, one's a Javascript vuln
Put down that Oracle database patch: It could cost $23,000 per CPU
On-by-default INMEMORY tech a boon for developers ... as long as they can afford it
Google shows off new Chrome OS look
Athena springs full-grown from Chromium project's head
Apple: We'll unleash OS X Yosemite beta on the MASSES on 24 July
Starting today, regular fanbois will be guinea pigs, it tells Reg
HIDDEN packet sniffer spy tech in MILLIONS of iPhones, iPads – expert
Don't panic though – Apple's backdoor is not wide open to all, guru tells us
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.