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Russians invest in Facebook
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by WisdomMountain | May 26, 2009 at 06:30 pm
127 views | 18 Recommendations | 5 comments
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Russians Digital Sky Technologies has invested 200 million to buy 1.96 percent stake
in Facebook Inc.
This values Palo Alto's Facebook at $10 billion.
Facebook CEO Mark Zuckerberg, who started Facebook at Harvard University,announced the sale.
Facebook's fast growth as the world's most popular social networking site with more than 170 million users,as many as the population of Japan, has obviously attracted the Russians to put in the money for the extraordinary global internet play .
Digital Sky,based iu Moscow and London,also owns stakes in Mail.ru,Forticom and vKontakte.
It has also agreed to buy up a further $100 worth of stock held by former and current Facebook employees.
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WisdomMountain
Kuala Lumpur, Federal Territor, Malaysia
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Recommendations (18)
albertacowpoke
Canada
jazzyzazzy
Glasgow, Scotland, United Kingdom
Art_By_Alida
Ohio River Valley, Indiana, United States
truthoriented
Manila, Antipolo, Rizal, Philippines
Amy Judd
Vancouver, Canada
Most RecentMost Recommended Comments (5)
at 19:55 on May 26th, 2009
Is this truly how much the social networking site is worth? It seems a big gamble. Consider that until now, the company is still struggling how it will monetize its investment and ventures.
at 23:11 on May 26th, 2009
Myspace, Facebook, Twitter...the social networking sites keep evolving...who knows what will be the next big thing?
I wouldn't invest any money in Facebook.
I would put all my money in Apple...
at 00:27 on May 27th, 2009
Only fools rush in.
at 14:36 on May 28th, 2009
Doesn't it bother anyone but me that the privacy of the information contained in the pages on Facebook may be opened up to the Russians?
at 18:08 on May 28th, 2009
Thanks truthoriented,Art_By_Alida,jazzyzazzy and Cherif23 for your kind comments.On the $10 billion valuation,it is certainly mind-boggling.
I believe like most paper value,it is just based on the share price that can go up or down,depending who owns and plays the price.The actual value is everybody's guess.
So the truth is - it should be less than it appears.
Art_By_Alida,you have hit the nail on the head.Better something more solid like
Apple icon, but Apple's price is also very high under current market conditions.
jazzyzazzy,seems like you have a wise head and calm heart.But the Russians have their reason for going in.Facebook has vital data on more than 170 million users,many of them are very important persons and their families,connections,photos,etc.
Cherif23, I share your concern over privacy of the information in Facebook. The KGB can easily know your likes and dislikes,perhaps by monitoring who and what you put up on your pages.
So the best is the observe the adage: "Prevention is better than cure" Prevent your information from being used against you by taking the necessary precaution like exercising discretion over what you discuss and with whom you connect.
Anyhow,thanks all for your kind attention.The world is becoming interlinked with information available at the speed of light.Facebook has become a new phenomenon of instant links never before seen in history.For example,I have befriended many great people in various cities swiftly that I would never have thought possible.
Facebook is a vital platform for good social networking.Let's look at its beneficial features and get the most out of it,Russians or no Russians.Since they have money to blow on it,let it be.Mark and his gang now go laughing to the bank!