Saudi’s Prince Alwaleed meets with Snapchat execs

Sit-down happens as mobile-messaging firm enters new funding round

Tags: Kingdom Holding CompanySaudi ArabiaSnapchat (www.snapchat.com/)USA
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Saudi’s Prince Alwaleed meets with Snapchat execs Prince Alwaleed met with Snapchat’s CEO Evan Spiegel and chief strategy officer Imran Khan. (Getty Images)
By  Stephen McBride Published  March 9, 2015

Saudi Prince Alwaleed bin Talal's investment firm Kingdom Holding held talks with US-based mobile messaging company Snapchat on "future potential business co-operation", Reuters reported.

Prince Alwaleed met with Snapchat's CEO Evan Spiegel and chief strategy officer Imran Khan, who are seeking a new round of funding that values the business at up to $19bn.

"On the agenda of discussions was future potential business cooperation between Kingdom Holding and Snapchat in the technology field," Kingdom Holding said in a statement, without elaborating.

The Saudi prince also took a sizeable stake in microblogging business Twitter prior to its IPO.

Snapchat, headquartered in LA, California, has a user base of more than 100m and is known for its mobile app that allows the sending of messages that are deleted after a few seconds. It hopes to raise up to $500m in its latest funding round.

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