$200m invested in Facebook

2009-05-26 22:12

San Francisco - Facebook announced on Tuesday that Digital Sky Technologies (DST) had purchased a 1.96% stake in the social network giant for $200 million, valuing the company at about $10bn.

Facebook said the Russian-based Internet investment group was also offering to purchase at least 100 million dollars of Facebook common stock.

The Palo Alto, California-based Facebook said details of the plan would be announced later this year.

"This investment demonstrates Facebook's ongoing success at creating a global network for people to share and connect," Facebook chief executive Mark Zuckerberg said in a statement.

"A number of firms approached us, but DST stood out because of the global perspective they bring - backed up by the impressive growth and financial achievements of their Internet investments.”

- AFP