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And if there’s money to be made, the prince is quite happy to invest, and has done very well in technology stocks.
During the visit Prince Al-Waleed and Snapchat’s CEO Evan Spiegel “discussed political, business and economic issues,” and “future potential business cooperation between KHC and Snap Chat in the technology field.” Weirdly, we can't imagine Snapchat – primarily used by adults and teens to exchange salacious photos – is the sort of thing encouraged by the kingdom.
This is a country that blocks websites considered "immoral" (anything pornographic), and flogs (or threatens to behead) people for posting stuff on Facebook that's anti-Islamic or pro-women's rights.
The self-destructing-photo app biz is looking for about 0m, and hopes the prince – a member of Saudi Arabia's ruling royal family – can chip in a few million.
The prince, whose personal hedge fund is the Kingdom Holding Company (KHC), appears to be interested in investing in Snapchat, even though swapping nude pics could land you in serious trouble under Saudi Arabia's Sharia Law.
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