Facebook has sold a 1.96% stake for $200m to a Russian internet firm, Digital Sky Technology's (DST). This move values the social networking website, which now has more than 200 million global members, at $10bn.
DST would not be represented on Facebook’s board or hold special observer rights.
"This investment demonstrates Facebook's ongoing success at creating a global network for people to share and connect," said Mark Zuckerberg, chief executive, Facebook.
Explaining the reason behind choosing DST, he added, "A number of firms approached us, but DST stood out because of the global perspective they bring." He also mentioned that the investment is a cushion and is not required for Facebook to reach its goal of becoming cash-flow positive in 2010.
The deal comes two years after Facebook sold a 1.6% stake to Microsoft for $240m.
Facebook sells stake for $200 m
Facebook has sold a 1.96% stake for $200m to a Russian internet firm, Digital Sky Technology's (DST). This move values the social networking website, which now has more than 200 million global members, at $10bn.DST would not be represented on Facebook’s board or hold special observer rights."This investment demonstrates Facebook's ongoing success at creating a global network for people to share and connect," said Mark Zuckerberg, chief executive, Facebook.
