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

The need for honest and objective information on Russia is more relevant now than ever before!

To keep our newsroom in Moscow running, we need your support.