TechTaffy

tech:

taffy

Prince Alwaleed Invest $300 Million In Twitter

By TechTaffy Desk

By Sudarshana Banerjee

Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, and Kingdom Holding Company (KHC), have made a combined investment of $300 Million in Twitter. This investment was the “result of several months of negotiations and comprehensive due diligence and represent a strategic stake in Twitter,” said a statement from KHC.

Arabic had the highest growth on Twitter, according to findings by data intelligence company Semiocast released last month. The volume of Arabic messages has multiplied by 22 in the last 12 months. Arabic is now the 8th most used language on Twitter, and Arabic messages represent 1.2 per cent  of all public tweets (2.2M per day). With recent events, Twitter has grown exceptionally fast in the Middle East.

Prince Alwaleed: Our investment in Twitter reaffirms our ability in identifying suitable opportunities to invest in promising, high-growth businesses with a global impact.

Prince Alwaleed, a nephew of the country’s king, owns a 95 per cent stake in KHC. The 56-year old prince has a personal net worth of about $19.6 billion, and significant investments in media and entertainment, with stakes in the Saudi Research and Marketing Group (SRMG) and News Corp. Prince Alwaleed recently announced his plans to launch his privately owned Alarab news channel.

 

 

 

 

 

Just in

Around the web

Windows 11 Start menu ads are now rolling out to everyone — The Verge

Microsoft is starting to enable ads inside the Start menu on Windows 11 for all users, writes Tom Warren. 
Around the web

Biden signs TikTok ‘ban’ bill into law, starting the clock for ByteDance to divest it — The Verge

President Joe Biden signed a foreign aid package that includes a bill that would ban TikTok if China-based parent company ByteDance fails to divest the app within a year, writes Lauren Feiner.
IT

IBM to acquire HashiCorp for $6.4B

IBM and HashiCorp have entered into an agreement for IBM to acquire HashiCorp, a provider of infrastructure and security management products, for $6.4 billion.
AI

OpenAI introduces new enterprise features

OpenAI announced new features aimed at enterprise users on Tuesday, at the wake of Meta's recent LLama 3 announcement.
Around the web

Oracle is moving its world headquarters to Nashville to be closer to health-care industry — CNBC

Oracle Chairman Larry Ellison said Tuesday that the company is moving its world headquarters to Nashville, Tennessee, to be closer to a major health-care epicenter, writes Ashley Capoot.