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The meeting, which included the mobile messaging
company's Chief Executive Evan Spiegel and Chief Strategy
Officer Imran Khan, comes as Snapchat embarks on a new funding
round that values the business at up to $19 billion.
"On the agenda of discussions was future potential business
cooperation between Kingdom Holding and Snapchat in the
technology field," Kingdom Holding, which is 95 percent owned by
Prince Alwaleed, said in a statement without elaborating.
The billionaire prince has made a number of investments in
technology brands in the past, including social messaging
service Twitter and Chinese e-commerce company JD.com Inc.
Los Angeles-based Snapchat, which allows its more than 100
million users to send messages that disappear after a few
seconds, is looking to raise as much as $500 million in its
latest funding round.
(Reporting by David French; Editing by David Goodman)
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