DST Reportedly More Than Doubles Stake In Facebook
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Russian investment group Digital Sky Technologies, which bought 1.9 percent of Facebook for $200 million earlier this year, has now boosted its stake in the company to more than five percent by buying up employee-owned shares, according to a report in Russia’s Kommersant newspaper.
SEE ALSO: New Facebook Investor Offers To Buy Employee Stock At $6.5 Billion Valuation
At the time of its initial Facebook investment in late May, DST said it would also make an offer to buy $100 million of stock held by Facebook employees; it was reportedly offering to buy those shares at a $6.5 billion valuation. Kommersant says all in all DST has now spent upwards of $400 million on Facebook stock—and still wants to buy more.
The news comes as DST continues to show off its financial muscle in the social media space. Earlier this week, it led a massive $180 million investment in social games firm Zynga. And DST has also been talked about as a potential buyer of yet another big online brand, ICQ.
A Facebook spokesman wouldn’t comment on the report, saying that “as a private company we don’t disclose shareholder percentages.”
Posted In: Money, M&A & Venture Capital, Social Media, Community, Companies, Facebook
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