Digital Sky Technologies follows Microsoft and buys stake in Facebook.Los Angeles, CA(JusticeNewsFlash.com)–Facebook, a social networking website whose U.S. headquarters are located in Palo Alto, California, announced the acceptance of a $200 million investment from a Russian firm on Tuesday. The Los Angeles Times reports the Russian Internet investor, Digital Sky Technologies, will now have close to a two percent stake in Facebook’s preferred stock but will not get a board seat.Facebook now counts 200 million users of its social community Web site with 70 percent living outside of the United States. The Russian investor values Facebook at $10 billion. The social media company has not reported a profit yet and business litigation experts say this deal seems similar to the previous Microsoft deal in 2007. Microsoft invested $240 million for a 1.6 percent share in the company based on an implied $15 billion Facebook valuation. Details in a legal settlement revealed Facebook’s own appraisal after the Microsoft deal at $3.7 billion.The business deal between the Internet based companies further requires Digital Sky Technologies to buy another $100 million in common Facebook stock at a minimum. Facebook relies heavily on advertising to make money similar to other huge technology companies like Google and Yahoo. Financial analysts remain skeptical about Facebook’s ability to run a profit.JusticeNewsFlash.com news for California business litigation lawyers.
Heather L. Ryan, R.N., C.L.N.C- Heather Ryan is a Certified Legal Nurse Consultant with 15 years of experience in the health care industry. Her expertise in reviewing medical records and assisting lawyers with the determination as to whether legal action should be taken provides an invaluable asset to the newsroom. Medical-malpractice, products liability, personal injury and workers’ compensation are some of the recent areas of litigation Ms. Ryan has focused her efforts on. A member of the Florida Justice Association, Heather maintains a long list of certifications and credentials to support her areas of expertise and stays up-to-date with her clinical knowledge working as an emergency room/trauma nurse, at a Level 1, Adult/Pediatric trauma and teaching institution in South Florida.View all posts by Justice Seeker