DST To Buy Up To $100 Million In Facebook Employee Stock

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I had a chance to sit down this afternoon with Facebook CEO Mark Zuckerberg and Yuri Milner, the Founder and CEO of new investor Digital Sky Technologies. Digital Sky Technologies is the new owner of just less than 2% of Facebook, paying a whopping $200 million for the privilege. But it's still a bargain compared to what Microsoft and others paid - this current round values Facebook at a third less than the $15 billion valuation they accepted in October 2007. We live blogged the press call on the announcement earlier today.The full transcript of the video is below. One thing that isn't clear is why Facebook took the money. Late last year Zuckerberg said he'd be willing to raise more, but only at the $15 billion valuation. Now they've raised money at $10 billion, even though they still say they're approaching profitability and don't really need it. We discuss that in the interview, but the answer still eludes us.Milner is a colorful character. He was the first Russian to get an American MBA - he graduation from Wharton Business School in 1992. Instead of taking a U.S. investment banking job he returned to Russia "to take advantage of the devloping free markets," he said, adding "My idea is to be in the most useful place in the proper time."The full video and transcript after the jump:
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May 26, 2009
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Russian investment group Digital Sky Technologies has placed a tender offer to purchase up to $100 million of common stock from current and former Facebook employees, we’ve confirmed from a source close to the deal. Employees who would like to accept the offer must accept the terms within 20 business days from today. The offer [...]
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