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DST Raises Stake in Facebook to More Than 5%

Files under: News
Posted by: Quintura @ 05:07 [17. 12. 09]

Russian Internet group DST (Digital Sky Technologies), which has contributed more than a half of a $180 million investment in social games company Zynga, has obtained more than 5 percent stake in world’s largest social network company Facebook. In addition to making a $200 million investment in preferred shares for 1.96 percent stake  in Facebook back in May 2009, DST invested $200 million in common shares in the company to purchase more than 3 percent stake from Facebook’s employees, reported newspaper Kommersant. DST early offered a price of $14.77 per Facebook common share, the same price it offered when it made the initial investment.  DST continues purchasing shares in Facebook, the newspaper said.

Founded in February 2004, the social network site Facebook has over 350 million active users worldwide. The annual revenues of the site, which has recently become cash-flow positive, are estimated at $500 million this year.

DST recently helped to merge leading Russian online portal Mail.ru with online games group Astrum Online Entertainment. DST is also in talks with AOL to acquire ICQ.

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