Arabian Prince Aims Twitter Stocks ?

Investors from Saudi Arabia reportedly wanted to buy micro blogging site Twitter stock. Prince Alwaleed, chairman of Kingdom Holding reported to have a discussion with one of the Twitter bosses about the possibility.

According to SkyNews, Kingdom Holding will buy the stock value of USD 200 million to $ 300 million. The amount is reached about 3% of the total value of Twitter. Unfortunately, both Twitter and Kingdom Holding has not commented on this news.

As quoted from the Herald Sun, Friday (10/21/2011), Kingdom Holding itself has invested in a number of company’s snapper. Among them News Corporation and Time Warner.

Twitter is currently growing as a popular networking site. The site was founded by Evan Williams and Biz Stone has about 100 million active users.

"Not only rapidly global growth of active users, but the number of logs in each day is also growing with a vengeance," claims Dick Costolo, chief executive of Twitter recently.

Related Post: