Prince Prince Alwaleed bin Talal, one of Saudi Arabia’s richest men, has taken a $300m stake in Twitter. The prince now owns 3.75% of the company, which is consequently valued at approximately $8bn, a figure that is higher than some analysts expected.
Prince Prince Alwaleed bin Talal is the second-largest investor in Rupert Murdoch’s News Corporation, but his Twitter deal marks a move into social media that suggests growing confidence that the tech bubble will not burst completely.
Twitter is expected to continue to grow in 2012, with a number of new developments in the pipeline. The company has been relatively successful when it comes to monetising its vast audience base, but has to ensure that it does not introduce adverts that alienate its current users.