NEW YORK — Facebook is getting a $200 million investment from a Russian Internet investor that values the social networking company at $10 billion.
The investment gives Digital Sky Technologies a nearly 2 percent stake in the Palo Alto, Calif.-based company's preferred stock. The deal presumes the company is worth $10 billion.
This is below the $15 billion valuation implied by a 2007 investment from Microsoft Corp., even though Facebook has substantially grown since then. However Facebook's own appraisal after the Microsoft deal gave the company a market value of about $3.7 billion, according to details revealed in a legal settlement.
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Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
The investment gives Digital Sky Technologies a nearly 2 percent stake in the Palo Alto, Calif.-based company's preferred stock. The deal presumes the company is worth $10 billion.
This is below the $15 billion valuation implied by a 2007 investment from Microsoft Corp., even though Facebook has substantially grown since then. However Facebook's own appraisal after the Microsoft deal gave the company a market value of about $3.7 billion, according to details revealed in a legal settlement.
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Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
