Write On My Wall, Comrade

[dgriffin]

Russian Firm Buys a Stake in Facebook


May 26, 2009

A Russian investment firm, Digital Sky Technologies, has invested $200 million in the social networking company Facebook in return for a 1.96 percent stake, the two companies said Tuesday.

The investment values Facebook’s preferred stock at $10 billion, a $5 billion drop from October 2007 when Microsoft paid $240 million for a 1.6 percent stake.

Facebook’s founder and chief executive, Mark E. Zuckerberg, said that the Microsoft investment was made at the “absolute peak of the market” and that it was just a part of Facebook’s partnership with Microsoft, which includes advertising and search agreements.


Facebook’s revenue is growing 70 percent year-over-year and the company will be cash-flow positive in 2010, even without the additional capital, Mr. Zuckerberg said.


www.nytimes.com/2009/05/27/technology/internet/27facebook.html?ref=technology

[rrogers40]

I wonder how long it will last- for the most part Internet stuff like this dies quicker than it grows. Just look at that twitter thingy- tits user base is already dropping like a rock and it hasn't been more than what? A year?