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