On December 19, Kingdom Holding, the investment group of Alwaleed Bin Talal Alsaud, the largest individual shareholder of Citigroup and the Saudi Prince, Alwaleed Bin Talal Alsaud, announced that the company had Twitter invested 300 million US dollars to buy the latter's "strategic shares."
Kingdom Holdings said in a statement, "This investment is the result of several months of talks." In addition, Kingdom Holdings did not disclose more details.
Prince Alvalid ’s investments include holding shares in General Motors, News Corp and Apple. "Arab Business" magazine in the 2011 selection of the global Arab rich list, Prince Alvalid topped the list, it is expected that his personal wealth reached 21.3 billion US dollars. Prince Alvalid holds a 95% stake in Kingdom Holdings, which is currently investing $ 1.23 billion to build the world ’s tallest skyscraper in Jeddah.
Market research company eMarketer predicts that Twitter ’s advertising revenue in 2011 will reach $ 139.5 million. This expectation is lower than eMarketer's previous forecast of $ 150 million, mainly because the speed of Twitter's new service has slowed down.
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