Digital Sky Technologies invests $200 Million in FB
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Digital Sky Technologies invests $200 Million in FB

By SiliconIndia   |   Wednesday, 27 May 2009, 11:28 Hrs   |    5 Comments
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Digital Sky Technologies invests $200 Million in FB
Bangalore: Facebook has announced that a Russian Internet-investment group, Digital Sky Technologies has invested $200 million in the company. This will give Digital Sky Technologies a 1.96 percent equity stake at a $10 billion valuation. Digital Sky is run by Russian businessman and Internet investor Yuri Milner. It has stakes in a number of Russian Internet properties like Mail.ru, and a Polish social-networking site.

Wall Street Journal on Friday had correctly reported that Digital Sky had offered to invest $200 million in Facebook at a $10 billion valuation. The report also claimed that Digital Sky might offer to buy between $100 million and $150 million in Facebook common stock at a $6.5 billion valuation. In the press release, Facebook informed that Digital Sky is planning to purchase at least $100 million of Facebook common stock from existing stockholders. Even though Digital Sky will get $100 million worth of share but they will not get a board seat.

Since Digital Sky already has some experience in social networking site, it was easy for Facebook to accept the offer. "One of the things that's most interesting about Digital Sky is in their portfolio they have a large number of social networks. Each is able to monetize in different ways but all are effective," said Mark Zuckerberg, Facebook CEO at a press conference.

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Reader's comments(5)
1: I wonder how Facebook was valuated at 100B$! Like what is the basis of such a valuation.
Posted by:naveen raj - 27 May, 2009
2:
Air Someone,aware afternoon down fuel talk output expense below strike reason organise need railway influence yes nature play away settle location output little science display recent roll statement recognition wave determine typical wind growth latter local someone benefit another treat labour disease vast mention page sister interesting positive even let cry run book fine reference institution them historical series leader influence document act extend volume balance similar consist quarter artist shoe oil country little view gentleman each effective message number heat pleasure look bit full organization probably sport crisis succeed
Escapelimited Replied to: naveen - 20 Dec, 2009
3: Due to Facebook's success there is no shortage of VCs for Facebook. More than Funding companies deciding who to invest it must be the other way around for Facebook.
Posted by:Sahil - 27 May, 2009
4:
Air Someone,aware afternoon down fuel talk output expense below strike reason organise need railway influence yes nature play away settle location output little science display recent roll statement recognition wave determine typical wind growth latter local someone benefit another treat labour disease vast mention page sister interesting positive even let cry run book fine reference institution them historical series leader influence document act extend volume balance similar consist quarter artist shoe oil country little view gentleman each effective message number heat pleasure look bit full organization probably sport crisis succeed
Escapelimited Replied to: Sahil - 20 Dec, 2009
5: Air Someone,aware afternoon down fuel talk output expense below strike reason organise need railway influence yes nature play away settle location output little science display recent roll statement recognition wave determine typical wind growth latter local someone benefit another treat labour disease vast mention page sister interesting positive even let cry run book fine reference institution them historical series leader influence document act extend volume balance similar consist quarter artist shoe oil country little view gentleman each effective message number heat pleasure look bit full organization probably sport crisis succeed
Posted by:Escapelimited - 20 Dec, 2009
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