Facebook welcomes $200 million Russian investment

May 27, 2009
3:39 am

Justice Seeker

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Facebook welcomes $200 million Russian investment

Digital Sky Technologies follows Microsoft and buys stake in Facebook.Los Angeles, CA(JusticeNewsFlash.com)–Facebook, a social networking website whose U.S. headquarters are located in Palo Alto, California, announced the acceptance of a $200 million investment from a Russian firm on Tuesday. The Los Angeles Times reports the Russian Internet investor, Digital Sky Technologies, will now have close to a two percent stake in Facebook’s preferred stock but will not get a board seat.Facebook now counts 200 million users of its social community Web site with 70 percent living outside of the United States. The Russian investor values Facebook at $10 billion. The social media company has not reported a profit yet and business litigation experts say this deal seems similar to the previous Microsoft deal in 2007. Microsoft invested $240 million for a 1.6 percent share in the company based on an implied $15 billion Facebook valuation. Details in a legal settlement revealed Facebook’s own appraisal after the Microsoft deal at $3.7 billion.The business deal between the Internet based companies further requires Digital Sky Technologies to buy another $100 million in common Facebook stock at a minimum. Facebook relies heavily on advertising to make money similar to other huge technology companies like Google and Yahoo. Financial analysts remain skeptical about Facebook’s ability to run a profit.JusticeNewsFlash.com news for California business litigation lawyers.