Facebook Now Valued At $6.5 Billion
The purchase of $100 million worth of Facebook stock by a Russian firm has lifted the value of the company to $6.5 billion.
The new value is higher than Facebook's $5 billion market valuation, but is still much less than 2007's numbers of $15 billion after Microsoft's $240 million investment.
The Russian company, Digital Sky Technologies, purchased $100 million in stock from current and former Facebook employees.
Digital Sky Technologies' purchase of a new round of Facebook common stock at $14.77 appears to halt at least temporarily the slide of the stock price of the popular online social network. The new purchase by the Russian firm, reported this week, values Facebook at $6.5 billion -- higher than Facebook's $5 billion market valuation represented in recent secondary market valuations.