Monday, June 26, 2017
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Samsung to Open Home Appliance Factory in South Carolina
SpaceX Launches Satellites From California Air Base
Parts of Windows 10 Source Code Leaked Online
Hackers Attacked U.K. Parliament
Google Promises to Stop Reading Your Emails in Gmail
BlackBerry's Software and Services Sales Fell in Q1
Handsets Expected to be Largest Market for ICs
G.SKILL Announces New DDR4 for the Intel X299 HEDT Platform
Active Discussions
Which of these DVD media are the best, most durable?
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
Help make DVDInfoPro better with dvdinfomantis!!!
menu making
Optiarc AD-7260S review
cdrw trouble
 Home > News > General Computing > Faceboo...
Last 7 Days News : SU MO TU WE TH FR SA All News

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.


Previous
Next
Roxio Introduces Easy VHS to DVD for Mac        All News        Windows Vista SP2 Adds Support For Blu-ray
U.S. District Court Orders Hynix to Post Security for Infringing Rambus Patents     General Computing News      Windows Vista SP2 Adds Support For Blu-ray

Get RSS feed Easy Print E-Mail this Message

Related News
Facebook Focuses on Groups to Bring More People and Ad Dollars Onboard
Facebook Outlines Measures to Remove Terrorist Content
Facebook Asks Users Hard Questions
Facebook Adds GIF Support to Messenger
Facebook Adds New Updates Safety Check Features
Court Rejects Parent Inquiry to Access Dead Child's Facebook Account
Facebook to Show Major League Baseball games Live
European Commission Fines Facebook €110 Million for Providing Misleading Information About WhatsApp Takeover
Facebook Updates News Feed to Reduce Clickbait Headlines
French Watchdog Fined Facebook
Facebook to Reduce Links to Low-Quality Web Pages
Facebook Shutters Oculus Film Studio

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2017 - All rights reserved -
Privacy policy - Contact Us .