Russian tech firm Digital Sky Technologies has upped its stake in Facebook from 1.96% to over 5%, Russian newspaper Kommersant reports.Since it’s buying stock from employees and early investors at a $10 billion valuation, we figure DST has spent something close to $300 million on Facebook equity since acquiring its original stake for $200 million in May.
Yesterday, we learned that Facebook revenues, which were reported to total above $550 million in 2009, are quickly approaching an annual run-rate of $1 billion.
DST is becoming a huge, disruptive player in Silicon Valley private equity.
Yesterday, it announced a $180 million investment in social games industry leader Zynga. DST CEO Yuri Milner told us he calls these kinds of investments “Quasi-IPOs,” and says he targets companies “with diverging interest between the founders and early investors and employees looking to pay their mortgages.”
AOL is also reportedly in talks with DST, looking to sell its popular-in-Russia instant messaging service ICQ.