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DST Global Launches DST Global 2; Invests in Spotify and Chinese 360buy.com

Files under: News
Posted by: admin @ 05:29 [30. 03. 11]

Yuri Milner‘s  DST Global, which has made investments in Facebook, Zynga and Groupon, has launched a new fund, DST Global – 2 that will have international investors as limited partners. DST Global – 2 will invest in later stage, high growth companies, reported newspaper Vedomosti. Its first investment was one in Groupon in January 2011.

DST Global – 2 is investing $50 million in exchange for 5 percent stake in online music service Spotify as part of $100 million round, according to the paper.

DST Global – 2 is also investing in 360buy (Amazon for China), the largest Chinese online retailer, by joining its funding round, according to Vedomosti. Launched in 2004, 360buy.com has 14 percent of the Chinese B2C e-commerce market valued at some $3.6 billion.

In December 2010, 360buy raised $500 million in funding from six strategic investors, including the world’s largest retailer Wal-Mart.

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