Snapchat is in talks with Saudi Arabia’s Prince Alwaleed about a potential collaboration

Snapchat is in talks with Saudi Arabia’s Prince Alwaleed about a potential collaboration

Snapchat CEO Evan Spiegel and chief strategy officer Imran Khan traveled to Saudi Arabia over the weekend to hold talks with Prince Alwaleed bin Talal about a potential new partnership.

An official release from the Prince’s team states: “HRH and Mr. Spiegel discussed political, business and economic issues. The two also discussed Prince Alwaleed’s investments in the US… Also, on the agenda of discussions was future potential business cooperation between KHC and Snapchat.”

Prince-Alwaleed-Mr.-Spiegel-CEO-of-Snapchat-at-HRH’s-office-Mar-2015-E-1-800x575

Prince Alwaleed is the  majority owner of Kingdom Holding Company, which has a number of investments in technology companies like Twitter and Chinese e-commerce company JD.com, Inc.

This meeting is notable as Snapchat is currently embarking on a funding round that could see the company being valued at $19 billion. With the Saudi Prince being  the largest individual foreign investor in the US, it will be interesting to see what comes out of this rendezvous.

Snapchat and KHC did not comment on the meeting when contacted by TNW.

➤ Prince Alwaleed Meets Snapchat’s CEO [Kingdom Holding Company]

Image credit: KHC

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