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SOCIAL MEDIA NEWS: Saudi prince invests $300 million in Twitter

Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud of the Saudi royal family has invested $300 million in social networking site Twitter.

The surprise move was announced this morning by the Prince and has since been confirmed by Twitter.

Twitter adds to an expanding list of media concerns possessed by Kingdom Holding Company (KHC), the Prince’s company.

It has been reported that KHC has secured a three per cent stake in Twitter. The deal values the social networking site at $10 billion.