Snapchat meets Saudi Arabia’s Prince Alwaleed over potential partnership

9 Mar 2015

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Snapchat and KHC meet at the KHC offices. Photo via kingdom.com.sa

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Photo-messaging app Snapchat has held talks with Saudi Arabia’s Prince Alwaleed bin Talal to discuss a potential new partnership.

Company CEO Evan Spiegel and chief strategy officer Imran Khan traveled to Saudi to meet the Prince and a number of representatives from his Kingdom Holding Company (KHC).

According to a statement released by KHC,the two parties discussed 'future potential business cooperation', but it did not go into specifics.

The billionaire royal has made a number of investments in tech firms in the past, including social network Twitter.

Founded at Stanford University, California in 2011, Snapchat has seen its value skyrocket after spurning a US$3bn acquisition offer from Facebook two years ago. Last month it was revealed that the firm is seeking to raise US$500m in a new funding round that could value it at as much as US$19bn.

Dean is a freelance journalist and editor covering media.

editorial@siliconrepublic.com