Saudi Prince Buys Stake in Twitter

Saudi Prince Alwaleed bin Talal has bought $300 million worth of stake in Twitter, which is unofficially 3.5% of its total worth. Alwaleed bin Talal heads Riyadh based Kingdom Holding Company, which is one of the largest companies in Saudi Arabia. Prince is a nephew of Saudi king Abdullah and is one of the top business magnates in the world.

Twitter has raised a lot of money from investors including DST Global earlier this year and has claimed that it expected to raise at least $800 million from investors in 2011. After this giant investment by Saudi Prince, we can assume that Twitter has surpassed the $800 million mark.

According to some sources and other news portals, Saudi Prince is planning to expand his public holding business via social networking website. That is a pretty good tactic as in the recent years, social media has revolutionized the business sector throughout the globe. It should be noted that Twitter has played a significant role in the Arab uprisings this year as the protesters communicated mostly through ‘tweets’.

Twitter has not disclosed any details of this investment but this news can be read on the Kingdom Holding Company’s official website, which in our opinion is plainly advertising this investment.

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Investors Doubt HTC’s Growth Due To Apple Lawsuit

Investors have started doubting HTC’s future growth as the Taiwanese firm is amidst a lawsuit with Apple Inc. Investors have talked to HTC’s CEO, Peter Chou, over this issue and he has guaranteed them that this lawsuit will not have any effect on the company’s growth.

Chou addressed the company’s investors at an investor conference and seemed confident that this “distraction” with International Trade Commission and Apple Inc. will not affect HTC in any aspect.

Apple recently sued HTC over patent infringements and ITC slammed HTC by issuing a ruling in Apple’s favor. The patents which, according to Apple, were violated by HTC deal with how the phone handles data sent to it from other devices over a network and how a device opens an e-mail.

HTC has recently purchased S3 Graphics with an intent to increase its $300 million net price tag. Chou also stated that HTC was closely following the tablet market and plans to be more competitive by launching new products in near future.

Whatever Chou claims, HTC is currently under a fierce battle with Apple. Some days prior, HTC indicated that it wants to settle its differences with Apple with a series of talks.

Will this lawsuit affect HTC or will this matter be solved out of the court?

Photo Courtesy of John.Karakatsanis
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