Saudi billionaire Prince Alwaleed bin Talal says he and his investment company are investing a combined $300 million into the microblogging site Twitter.

Alwaleed said Monday the joint investment with his Kingdom Holding Company represents an interest in investing “in promising, high-growth businesses with a global impact.”

Twitter allows users to send short messages of up to 140 characters. It has been instrumental in connecting protesters and relaying on-the-ground developments during this year’s Arab Spring uprisings.

Alwaleed’s KHC is a major shareholder in Citigroup and holds stakes in other large stakes in other western giants, including Apple and Rupert Murdoch’s News Corporation.

(Source: Fox News)