Rumor: Yandex Interested In Selling Face.com Stake
Yesterday a rumor surfaced about how Facebook.com is interested in buying Face.com outright for $80-$100 million. According to a source with Russian newspaper Vedomosti, Face.com investor Yandex is interested in selling their stake to Facebook or another company.
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry
“One of the shareholders of Face.com is Russia’s Yandex which, in autumn 2010 together with Israeli investment fund Rhodium, invested $4.3 million in return for 18.4 percent of the company and the move for its CEO, Arkady Volozh, to join Face.com’s board of directors.”
“Yandex is in talks to sell its stake in Face.com, says a source close to the company. The source told Vedomosti about the negotiations for the sale, which Yandex wants to do in exchange for money and Facebook stock.”