The social networking website Facebook has sold an almost 2% stake to a Russian internet firm for $US200 million. Facebook is seeking a cash buffer as it grows rapidly through the recession.
The social networking website Facebook has sold an almost 2% stake to a Russian internet firm for $US200 million.
The move values the website at $US10 billion.
Digital Sky Technologies will take a 1.96% stake in Facebook in exchange for preferred stock.
Facebook is seeking a cash buffer as it grows rapidly through the recession.
Facebook Chief Executive Mark Zuckerberg says he had been impressed by Digital Sky Technology's impressive growth and financial achievements.
The company has investments in a number of internet firms across Russia and Eastern European.
The US-based social networking site has more than 200 million global members.
