Digital Sky Technologies (DST) is big player when it comes to investing in social networks and virtual good companies. DST invested about $200 million in Facebook and bought equity from the social network’s shareholders in the last couple months. The Russian investment company has also invested in Facebook replica Vkontakte.ru.
Today DST has invested $180 million in social network gaming company Zynga. Zynga makes hundreds of millions in revenue every year and it is suspected that the company is now valuated at over $1 billion. Zynga is best known for making games Mafia Wars and FarmVille. Next up Zynga is making a game called PetVille. DST is buying equity of Zynga from current shareholders as part of the investment.