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Saudi Arabia's Kingdom Holding Has No Plans To Invest In Snapchat: Source

Ron Burgundy

By Ron Burgundy,
in Tech News

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Ron Burgundy

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A billboard displays the logo of Snapchat above Times Square in New YorkSaudi Arabia's Kingdom Holding, the investment firm owned by billionaire Prince Alwaleed bin Talal, has no plans to invest in Snapchat, a source familiar with the matter told Reuters on Thursday. The meeting, in which Snapchat Chief Executive Evan Spiegel and chief strategy officer Imran Khan were present, triggered speculation that Alwaleed may take part in Snapchat's new funding round that has already seen Alibaba Group Holding invest $200 million -- giving the Los Angeles-based firm a valuation of around $15 billion.




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