Investment company Kingdom Holding (0528.HKG) bought a stake in Chinese online retailer 360buy Jingdong as it boosts investment in fast-growing companies, Bloomberg reported. Kingdom, controlled by Saudi billionaire Prince Alwaleed bin Talal, led a group of investors who took a US$400 million stake in 360buy, it said in an emailed statement on February 16. Kingdom invested US$125 million in the Beijing-based company. Alwaleed, the world’s 14th-richest person, also invested US$300 million in microblogging service Twitter in 2011 and holds stakes in companies such as Apple (AAPL.NASDAQ) and Rupert Murdoch’s News Corp (NWSA.NASDAQ, NWS.NASDAQ). He continues to invest in e-commerce and technology companies as demand for internet-based services increases.
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