Saudi prince says he bought 2.3% stake in Snap for $250 mn
Saudi Arabia's Prince Alwaleed bin Talal tweeted a video of him and Snap CEO Evan Spiegel and announced that he invested $250 million in exchange for a 2.3% stake in the company. The investment valued Snap at $10.8 billion, much lower than its $17-billion market cap. The billionaire had previously invested in Twitter and Uber's US rival Lyft among others.