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BACK2THEFRESH (AP) Saudi Prince Alwaleed Bin Talal doubled his money after investing $300 million in twitter.com in 2011. Now he’s betting on social media again by investing $250 million into Snap Chat.

Snap, the parent company of Snapchat, now has some royal backing.

Prince Alwaleed Bin Talal, a businessman and a member of Saudi Arabia’s royal family, announced Tuesday that he’s acquired 2.3% of the class A shares of the messaging app maker. The prince invested about $250 million, building up his stake over time and completing his investment on May 25. Read more by clicking here: Prince Alwaleed

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