With recent attention paid to Goldman Sachs’ new investment in Facebook, there has been less notice paid to the second eager investor in the social media giant: Digital Sky Technologies.
The company which includes DST Global – is led by Yuri Milner of Russia.
Milner’s Mail.Ru Group owns 2.38 percent of Facebook, while DST Global also owns part of Facebook, and reportedly the investments so far could put the total holding at 10 percent, according to the AFP news agency and reports from The New York Times.
The New York Times reported that DST has invested $50 million more in Facebook, so now its combined total with Mail.ru would be approximately $500 million, the AFP reports.
Milner told Vedomosti in a December interview, said that Mail.Ru is following "a strategy to have a global expertise in a very narrow sector," according to the AFP.
Milner added that “On the Internet [market] there is a tendency for 'winner takes all' and a leader emerges in every niche with surprising consistency," according to the AFP.
In addition, it appears that Milner has concluded that Facebook is dominant in “English-language social networking.”
TechZone360 reported that Milner also believes that Facebook could be one of the early platforms for artificial intelligence sometime in the next 10 years.
The AFP adds that the Mail.Ru Group is the largest Internet company in Russia.
In a related matter, The Times reported earlier this week that Goldman Sachs made a $450 million investment in Facebook. The Goldman Sachs investment caused concern because of a possible investment vehicle that allows the bank’s customers to take part, according to a report from TechZone360.
Goldman Sachs set up a "special purpose vehicle" to allow its clients to invest in Facebook, TechZone360 adds, with the investments pooled as a single investment for the purposes of meeting government regulations.
Goldman Sachs will reportedly get as much as $1.5 billion from investors, many of whom appear quite eager to take part in the scheme.
Facebook has been valued at $50 billion.
In addition, under U.S. Securities and Exchange Commission requirements, companies with 499 investors or more have to disclose their financial results and Facebook has never had an initial public offering.
One of the biggest challenges for 5G and last mile 10 Gig deployments is not raw data speeds, but middle mile and core networks. The wireless industry…
Although a new and emerging technology, (which is still evolving), in early 2018, most companies are not aware of the possible benefits they can achie…
VR could change everything from how we play video games to how we interact with our friends and family. VR has the power to change how we consume all …
The app economy is upon us, and businesses of all stripes are moving to address it. In this age of digital transformation, businesses rely on applicat…
There is no denying that VR is here and will most likely only increase in velocity as a terminal speed is yet to be even hypothesized. That is why it …