New York: Social networking site Facebook has received a $200 million investment from Digital Sky Technologies, an internet investment group, in exchange for a 1.96 per cent stake in the company.
Digital Sky Technologies (DST), which has significant stake in Eastern European and Russian internet businesses, has picked up 1.96 per cent in Facebook, valuing the enterprise at $10 billion, the company said in a statement.
In addition, DST has indicated plans for an offer to buy at least $100 million of Facebook shares from existing shareholders to facilitate liquidity for current and former employees' vested shares in the company.
However, consistent with Facebook's practice with other recent investors, DST would not be represented on the Facebook board or hold special observer rights, the statement added.
"This investment demonstrates Facebook's ongoing success at creating a global network for people to share and connect," Facebook CEO Mark Zuckerberg said.
"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," Zuckerberg added.
Iran restores access
Meanwhile Iran has restored access to Facebook after blocking it reportedly to prevent supporters of a moderate in the presidential race from using it for his campaign, the Ilna news agency said.
Ilna is considered close to reformist candidates standing in the June 12 election.
The agency said the Internet social networking site had been blocked after a decision "by a committee of representatives from the ministry of interior, intelligence, judiciary, parliament and some other ministries".
On May 23, it said access was blocked because "supporters of Mir Hossein Mousavi were using Facebook to better disseminate the candidate's positions".
Mousavi, a moderate, is emerging as the main rival to conservative President Mahmoud Ahmadinejad who is seeking a second term in office in next month's poll.
When asked about the ban at a news conference yesterday, Ahmadinejad said he was "unaware and would investigate" the matter.
The authorities have not given any reason for initially banning access to the site and then restoring it. They closely monitor access to Internet, especially political and pornographic sites.
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