Facebook Inc said Russian Internet-investment group Digital Sky Technologies is attracted in the company’s product and has invested US$200 million in the company, which reflects a stake of nearly 2% based on valuation of US$10 billion for Facebook preferred stock.
Digital Sky Technologies is operated by Russian businessman and Internet investor Yuri Milner, and has portions of a number of Russian Internet properties that include Russia’s largest Web site, Mail.ru, and a Polish social-networking site.
This is the first deal for the California-based Facebook, which has raised a significant funding within one year and a half. By the end of 2007, Facebook received an investment from Microsoft Corp which is valued at approximately US$15 billion.
Ever since that time and because of the recession, Facebook has sought investors that are interested even at lower prices. In 2008, it called off a program that would have allowed employees to sell some shares in the company after a struggle to find investors willing to finance the program.
Digital Sky Technologies’ investment indicates that some investors may become more positive about Facebook, and that Facebook’s current success in creating a global network for people to share and get in touch.
Read also
[...] Facebook Attracts Russian Investor [...]