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Saudi billionaire Prince Alwaleed invests $300 million into microblogging site Twitter
DUBAI, United Arab Emirates (AP) ' Saudi billionaire Prince Alwaleed bin Talal says he and his investment company are investing a combined $300 million into the microblogging site Twitter.
Alwaleed said Monday the joint investment with his Kingdom Holding Company represents an interest in investing "in promising, high-growth businesses with a global impact."
Twitter allows users to send short messages of up to 140 characters. It has been instrumental in connecting protesters and relaying on-the-ground developments during this year's Arab Spring uprisings.
Alwaleed's KHC is a major shareholder in Citigroup and holds stakes in other large stakes in other western giants, including Apple and Rupert Murdoch's News Corporation.