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Digital Sky Technologies offers Facebook $200m investment

26 May 2009

Digital Sky Technologies, a Russian private web investment firm, has offered to invest $200m in social networking site Facebook, the Wall Street Journal reports.

The deal has not been confirmed by either party, however, Facebook CEO Mark Zuckerberg reportedly told the Reuters Global Technology Summit last week that the company would be willing to consider an offer of investment.

According to the Wall Street Journal, DST offered to buy $200m of preferred stock and an additional $100m to $150m of common stock. DST will reportedly receive a 2 per cent stake in the company in exchange for its investment.

Facebook, which has over 200 million users, received funding from Microsoft in 2007, when the software developer paid $240m for a 1.6 per cent stake in the company.

DST part-owns a number of internet companies, including Russia’s email service and Vkontakte, the most popular social networking site in Russia and Ukraine.

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