Aims to have a “strategic stake”. Hmm.
There was a time where Twitter lacked a revenue model and was mocked about it, but recently all of that has begun to change with their new advertising features as well as the new interface that makes it more attractive to advertisers. Now, looks like the company is getting a boost of new capital in form of an unlikely person.
Bloomberg reports that Saudi Prince Alwaleed bin Talal has invested $300 million into the micro-blogging website. This was done alongside his investment company Kingdom Holding which looks to have a “strategic stake” in Twitter. Twitter confirmed this but declined to give any more information.
It’s great for the company that can now focus on working on the website since this is a significant investment to say the least.