Facebook announced that Digital Sky Technologies (DST) has made a $200m investment in the company in exchange for preferred stock, taking a 1.96% equity stake, giving Facebook a $10 billion valuation.
DST has informed that it is planning to purchase at least another $100m of Facebook common stock from existing common stockholders. The company revealed that it will not be represented on the Facebook board seat or hold special observer rights.
Mark Zuckerberg, CEO of 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 backed up by the impressive growth and financial achievements of their internet investments. We’re looking forward to working with the DST team.”
