Facebook value drops $5 billion

Could it be just a coincidence that this follows so quickly after their bonehead move of switching off RSS feeds

Russian Firm Buys a Stake in Facebook – NYTimes.com

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.

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Published in: on May 27, 2009 at 2:46 pm  Leave a Comment  

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