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Saudi prince invests $300 million in Twitter

December 19, 2011 12:00:00 AM PST
A billionaire Saudi prince has made a major investment in the micro-blogging site Twitter.

Prince Alwaleed bin Talal and his holding company have gone in for a combined total of $300 million.

Twitter allows users to send short messages of up to 140 characters.

It was instrumental in connecting protesters and relaying on-the-ground developments during this year's Arab uprisings.

Alwaleed, a nephew of the Saudi king, ranks 26th on Forbes' list of the world's richest people. He has a history of investing in media and technology companies.

The Associated Press contributed to this report.