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$200 Million Investment Values Facebook at $10 Billion
Topics:Internet | Technology | Information Technology
Sectors:Internet | Technology
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CNBC.com |
Facebook is getting a $200 million investment from Russian Internet investor, Digital Sky Technologies, that values the social networking company at $10 billion.
The investment gives Digital Sky a nearly 2 percent stake in the Palo Alto, Calif.-based company's preferred stock. The deal presumes the company is worth $10 billion.
This is below the $15 billion valuation implied by a 2007 investment from Microsoft Corp., even though Facebook has substantially grown since then. However Facebook's own appraisal after the Microsoft deal gave the company a market value of about $3.7 billion, according to details revealed in a legal settlement.
Copyright 2009 Reuters. Click for restrictions.
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