Facebook Now Valued at $10 Billion

Facebook Now Valued at $10 Billion

Facebook has recently closed a deal with Digital Sky Technologies, a Russian internet holding company. With the agreement, DST will shell out $200m (£125m)for a 1.96 per cent stake in the social netwoking leader.
 

Facebook CEO  Mark Zuckerberg said, "This investment demonstrates Facebook's ongoing success at creating a global network for people to share and connect."

 

"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," Zuckerberg added.

 

Two years back, Microsoft has taken a 1.6 percent stake, paying Facebook $240m (£150m). The site was then tabbed at $15bn (£9.4bn).