Support The Moscow Times!

$500M for Facebook

Digital Sky Technologies together with Goldman Sachs will invest $500 million in Facebook, potentially boosting its value to $50 billion, Bloomberg reported, citing sources close to the deal.

Digital Sky Technologies will invest $50 million, and Goldman Sachs, which is also a part owner of the Moscow-based investment company, will put in another $450 million, Bloomberg reported in early January.

Facebook, the world’s most popular social network, ranks fifth in Russia but has recently seen a significant boost in domestic use. Group, a division of Digital Sky Technologies, owns and holds a major share in Vkontakte, a Facebook-inspired Russian social networking web site. 


Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.