SHOWTIME SAYS…
Prince Alwaleed bin Talal of Saudia Arabia announced today that they are investing a total of $300 Million into the social networking site Twitter. The company plans to use the cash to get more users and advertisers.
Alwaleed is the 26th richest person in the world according to Forbes magazine and has invested in other technology companies in the past.
Currently twitter has about 100 million users that post about 250 million tweets per day.
Researchers estimate that Twitter will generate about $140 million in ad revenue this year and $260 million in 2012.
