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SAN FRANCISCO (CBS/AP) – Saudi billionaire Prince Alwaleed bin Talal and his advance aggregation said Monday they are advance a accumulated $300 actor into Twitter, giving the microblogging armpit a banknote addition as it looks to attract added users and advantageous advertisers.

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The collective advance with Alwaleed’s Kingdom Holding Co. follows months of negotiations and represents a “strategic stake” in San Francisco-based Twitter, according to the Riyadh, Saudi Arabia-based advance firm. It wasn’t bright how abundant of Twitter the prince will control.

Alwaleed, a nephew of the Saudi king, ranks 26th on Forbes’ account of the world’s richest people. He has a history of advance in media and technology companies, and said the accord represents an absorption “in promising, high-growth businesses with a all-around impact.”

Twitter allows users to accelerate abbreviate letters of up to 140 characters. The 5-year-old armpit has been alive in abutting protesters and relaying on-the-ground developments during this year’s Arab Spring uprisings.

Globally, the aggregation has added than 100 actor alive users who column an boilerplate of 250 actor messages, or “tweets,” a day.

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Công ty Cổ phần Ä áº§u tÆ° Phát triển Nhà Bắc Ninh – logo ca khúc | logo ca khúc

“We accept that amusing media will fundamentally change the media industry mural in the advancing years. Twitter will abduction and monetize this absolute trend,” Ahmed Halawani, KHC’s controlling administrator of clandestine disinterestedness and all-embracing investments, said in a statement.

Twitter agent Matt Graves accepted the advance but was clumsy to accommodate added details.

Alwaleed is the capital actor in KHC, which has a above pale in Citigroup Inc. The advance aggregation additionally holds stakes in added Western giants, including Apple Inc. and Rupert Murdoch’s Account Corp.

Alwaleed’s accommodation to buy into Twitter acceptable goes above his absorption in media and technology. Said Hirsh, a Mideast economist with Capital Economics in London, said Arab investors such as Alwaleed accept continued targeted bays assets and able-bodied accustomed brands.

“It is … an advance into a able-bodied accustomed cast with approaching advance potential,” Hirsh said.

In February 2010, Alwaleed’s Rotana Accumulation media aggregation agreed to advertise a pale of aloof over 9 percent to Account Corp. for $70 million.

Alwaleed is in the action of ablution a new Arabic account approach that will claiming accustomed players such as Qatar’s Al-Jazeera and Saudi-funded Al-Arabiya.

The channel, which will be alleged Alarab, is accepted to activate operations abutting year and will affection letters from business account account Bloomberg LP. Alwaleed has said he hopes the new arrangement will focus on the accouterment demography abode beyond the Arab world, with an accent on abandon of accent and of the press.

KHC additionally owns a ample pale in a Saudi media aggregation that produces the affecting Arabic bi-weekly Asharq al-Awsat and added publications.

Twitter afresh began rolling out a alternation of tweaks advised to accomplish the armpit easier to navigate. The redesign additionally aims to acquiesce for added abundant advice about accumulated brands as Twitter tries to catechumen added companies into advertisers.

The aggregation beforehand this year aloft $400 actor from adventure capitalists and added investors. Twitter CEO Dick Costolo said in September that banknote beanbag would acquiesce the aggregation to ascendancy its own afterlife – and for now abstain affairs its banal through an antecedent accessible offering.

By attached its shareholders to a baby accumulation of clandestine investors, Twitter doesn’t accept to acknowledge how abundant acquirement it brings in. The analysis abutting eMarketer estimates Twitter will accomplish abutting to $140 actor in ad acquirement this year and $260 actor in 2012.

(Copyright 2011 by CBS San Francisco. All Rights Reserved. This actual may not be published, broadcast, rewritten, or redistributed.)

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