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Wednesday, May 27, 2009
Facebook Receives $200 Million Investment From Digital Sky Technologies


Facebook today announced that Digital Sky Technologies (DST), an internet investment group, has made a $200 million investment in Facebook in exchange for preferred stock, representing a 1.96 percent equity stake at a $10 billion valuation.

In addition, DST has indicated that it is planning to offer to purchase at least $100 million of Facebook common stock from existing common stockholders that would facilitate liquidity for current and former employees? vested shares in the company. The details of the plan are expected to be announced to eligible participants during the summer. DST will not be represented on the Facebook board or hold special observer rights.

"This investment demonstrates Facebook?s ongoing success at creating a global network for people to share and connect," said Facebook CEO Mark Zuckerberg. "We?ve worked hard to bring more than 200 million people ? 70 percent outside of the U.S. ? onto Facebook to share with friends, family and co-workers. A number of firms approached us, but DST stood out because of the global perspective they bring ? backed up by the impressive growth and financial achievements of their internet investments. We?re looking forward to working with the DST team."

"Our investment experience in other regions reveals the tremendous value social networking companies create as they redefine how people communicate and interact," said Yuri Milner, chief executive of DST. "By every important metric ? user growth and engagement, technological innovation and financial performance ? Facebook is on a similar trajectory, though on a much more global scale. We?re delighted to invest in Facebook, Mark and his management team as they make the world more open and connected."

Based in London and Moscow, DST has made a number of successful internet companies, holding significant interests in Russia and Eastern Europe, such as Mail.ru, Forticom and vKontakte. DST?s main assets account for over 70 percent of all page views in the Russian-speaking internet and its social networks are the market leaders in more than 13 countries, addressing a combined population of more than 350 million.


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