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Russian Investor Buys 1.96% In Facebook For $200 Million

27 May, 2009

Facebook sold a 1.96% stake for $200 million to a technology investment firm, valuing the largest social networking site at $10 billion, the two companies said on Tuesday.

Digital Sky Technologies, based in London and Moscow, bought preferred stock, according to the joint announcement.

Digital Sky also plans to buy at least $100 million of Facebook common stock from existing stockholders to provide liquidity for current and former employees with vested shares of Facebook stock.

Facebook Chief Executive Mark Zuckerberg said in a statement that a number of firms had approached Facebook, but Digital Sky stood out “because of the global perspective they bring – backed up by the impressive growth and financial achievements of their Internet investments.”

Digital Sky holds significant interests in Russian and Eastern European Internet companies, including Mail.ru, Forticom and vKontakte, according to the company.

Facebook has more than 200 million active users. In 2007, Microsoft Corp invested $240 million in Facebook, valuing the company at that time at $15 billion.


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Russian Investor Buys 1.96% In Facebook For $200 Million

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