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article imageFacebook to sell a share of its business

By Jane Fazackarley     May 26, 2009 in Business
A Russian based Internet firm has bought a share of the Facebook business. The 1.96% share is worth $200 dollars to the social networking company which now gives them a value of $10 billion.
The firm buying the stake, DST, has invested in several Internet based companies throughout Russia and the Eastern European area.
Facebook say DST will not have a place on its board or have any observer rights.
DST have a vast Internet business in Russia. Its businesses make up around 70% of web page views in its home country of Russia.
The company has previously invested in, and Forticom.
Facebook has over 200 million members across the globe and sold a share of its business to Microsoft for $240 million in 2007.
Mark Zuckerberg, chief executive for Facebook 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."
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