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Snapchat gets $250M investment from Saudi prince for 2.3%

Snap Inc got a fresh infusion of cash from the Saudi royal family to help it survive despite losing $353 million this quarter. Prince Al-Waleed Talal tweeted a video of him and Snap CEO Evan Spiegel, noting that he’s invested $250 million in exchange for a 2.3 percent stake in Snap Inc. The company declined to comment on the news.

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from TechCrunch https://ift.tt/2OS27EU

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