Saudi Prince pumps $300 million into Twitter

Twitter’s latest major chunk of backing comes from the Arab world as Saudi Prince Alwaleed bin Talal invested $300 million into the microblogging site according to Bloomberg. Twitter has not made a statement about the investment other than to confirm that it was made.

As the social network attempts to improve their revenue stream and appeal to advertisers, the investment means having a little more time to lose money and perfect their business model. Depending on which numbers you believe, the site has between 100 million and 250 million users worldwide.

“They are looking to give themselves some more running space,” said Jeff Mann, an analyst at Gartner in Amsterdam. “Their strategy has always been first get big. They’re still holding reasonably close to that. Having a big audience is more important than a short-term revenue stream.”