Facebook to Get $200 Million from Russian Internet Group

Posted by Editor in Wednesday, May 27th, 2009
Categories: Tech News       Tags: , , , ,

Facebook will soon be receiving $200 million from a Russian internet giant; “Digital Sky Technologies.” These are still rumors and no one knows about what is in reality going on. The Russian internet group has offered to invest this big amount in the world’s top ranking social networking hub. According to Wall Street Journal, this deal would take Facebook where it would be worth $10 billion.

When asked about the prospective deal, Facebook Chief Executive MarkFacebook Zuckerberg said, “Facebook is a private company, so as a matter of policy, we don’t typically share details about our financial plans or comment on rumor and speculation.” He stated that what people are talking about these days is nothing but made out of few discussions that have taken place. Therefore, there isn’t anything new upon which a comment must be made.

Digital Sky Technology was not available for any comments. This offer made by them is consisted of two parts; a $200 million investment in Facebook’s preferred stock (valuing it at $10 billion), and another $100 to $150 million investment in the common stock (valuing it at $6.5 billion).

Most recent funding in the Facebook was made back in 2007 by Microsoft by paying $240 million for a 1.6 percent stake in Facebook. Active users of the social networking website at present are 200 million, which are almost double the members than last august. Also, it has more than 15 billion pictures uploaded on it, which makes it one of the top photos sharing websites of world.

Source: marketwatch

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