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Posts Tagged ‘Microsoft Corp’

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Digital Sky Technologies is seeking to increase its stake in Facebook Inc. through an offer to buy up to $100 million in employee stock.

According to Business Journal
The Russian firm is offering $14.77 a share, which pegs the Palo Alto-based social network’s value at $6.5 billion.

DST took a 1.96 percent stake in Facebook in May when it invested $200 million in the company. The plan to buy employee stock was announced at the time but the valuation placed on Facebook in the May investment was pegged at $10 billion.

The offer on employee stock is is based on a valuation that is also quite a bit lower than the $15 billion put on Facebook when Microsoft Corp. invested $240 million in 2007. Both Microsoft’s and DST’s original investment are in preferred shares.

“While individuals must make their own decisions about participating in this program, I’m pleased that the price DST is offering is much greater than the price originally considered last fall,” Facebook chief executive officer Mark Zuckerberg said in a statement. “This is recognition of Facebook’s growth and progress towards making the world more open and connected.”

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Now, I’m sure you all know who he is, and if not, im sure you all use the social networking site called facebook, well, he and his buddies created that website.

Let’s look at 5 things you should know about mark

Mark is an American computer programmer and entrepreneur, he is also the CEO of Facebook.

Zuckerberg launched Facebook from his Harvard dorm room on February 4, 2004.

On October 24, 2007, Facebook Inc. sold a 1.6% stake to Microsoft Corp. for $240 million, evaluating facebbok at $15 billion at the time of the sale.

In 2008, Forbes ranked Zuckerberg as the 321st richest person in the United States, with a net worth of $1.5 billion. He is the youngest person ever to appear on the Forbes 400.

Time Magazine added Zuckerberg as one of The World’s Most Influential People of 2008.

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