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$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.

Mail.ru Group, a division of Digital Sky Technologies, owns Mail.ru and holds a major share in Vkontakte, a Facebook-inspired Russian social networking web site. 

(MT)


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