Facebook has secured a $200 million investment from Russian firm Digital Sky Technologies (DST), the social networking site announced Tuesday.
The deal puts Facebook's value at $10 billion - slightly less than the $15 billion valuation thrown around in October 2007 when Microsoft invested $240 million in Facebook.
London- and Moscow-based DST's $200 million investment will be in exchange for preferred stock, and represents a 1.96 percent stake in Facebook. In addition, Facebook will offer to purchase at least $100 million of Facebook common stock from existing common stockholders. Facebook will notify eligible participants this summer.
DST will not get a seat on the Facebook board.
"A number of firms approached us, but DST stood out because of the global perspective they bring - backed up by the impressive growth and financial achievements of their internet investments," Facebook CEO Mark Zuckerberg said in a statement.
"Our investment experience in other regions reveals the tremendous value social networking companies create as they redefine how people communicate and interact," said Yuri Milner, chief executive of DST. "By every important metric - user growth and engagement, technological innovation and financial performance - Facebook is on a similar trajectory, though on a much more global scale."
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