Posts Tagged ‘twitter investment’
Prince Alwaleed bin Talal, the Saudi Arabian businessman and investor, has acquired a $300 million “strategic stake” in Twitter, following several months of negotiations.
Alwaleed, the founder and CEO of Kingdom Holdings, has a net worth of US$19.6 billion, already holds stakes in Apple, Citigroup, News Corp and General Motors, and is considered a “savvy investor” by his peers.
Twitter has completed its latest round of funding – $200 million, which values the company at an impressive $3.7 billion.
They’ve also expanded their board, adding former Doubleclick head David Rosenblatt and Flipboard’s Mike McCue.
This new round of capital brings Twitter’s total funding to $360 million since the company was founded in 2006.
Read the full report at All Things D.