Russian Tech Group Offers to Invest $200 mln in Facebook

A Russian tech investment group, Digital Sky Technologies [DST], has offered to invest $200 million in  Facebook in a deal that equates the social network’s valuation at $10 billion, the Wall Street Journal reported on Friday.

From WSJ: Under the terms of DST’s two-part offer, the Russian investment group would also offer to buy between $100 million and $150 million in Facebook common stock at a $6.5 billion valuation, according to people familiar with the matter. The amount, which would likely be used to buy up some Facebook employees’ shares in the company, would depend on how many employees were interested in selling their shares, according to these people.

Facebook Chief Executive Mark Zuckerberg has said in recent interviews the company may raise more money but that it doesn’t have to. The company is forecasting revenue growth of at least 70% in 2009, putting revenue around $500 million or more, according to people familiar with the company’s finances. The social network, which has more than 200 million active users, expects to be cash-flow positive in 2010…

It’s unclear if DST would want a board seat with the investment. “Facebook is a private company, so as a matter of policy, we don’t typically share details about our financial plans or comment on rumor and speculation,” the company said in a statement.

If Facebook accepts the deal, it would be the first time the Palo Alto, Calif.-based co. has raised some significant round of funding in a year and a half.

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