MUMBAI: Saudi billionaire Prince Walid bin Talal and his Kingdom Holding Company announced a combined investment of $300 million in the social networking site Twitter. The stake is about three per cent of the company.

He said, "Our investment in Twitter reaffirms our ability in identifying suitable opportunities to invest in promising, high-growth businesses with a global impact. Social media will fundamentally change the media industry landscape in the coming years. Twitter will capture and monetise this positive trend."

Twitter allows users to post messages - tweets - of up to 140 characters.