Digital Sky Buys $200 Million Worth Of Preferred Stock In Facebook
Digital Sky Technologies (DST) is a Russian investment company that has just bought $200 million worth of Facebook stock based on a $10 billion valuation. Last week Digital Sky also made an offer to buy $100 million-$150 million worth of common stock at $6.5 billion valuation.
The common stock offer would be used to buy stock from employees as long as they are willing to cash out. Digital Sky is owned by Russian businessman Yuri Milner. DST also has ownership in major online mailing system Mail.ru.
The $200 million investment made in Facebook today is for 1.96% equity. This deal is very similar to the $240 million investment Microsoft made in Facebook.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry