Recession? What recession? Russian investment group Digital Sky Technologies is on a holiday spending spree. After leading a $180 investment round for online-gaming company Zynga, DST boosted its stake in social-networking site Facebook to more than 5% and it is eyeing more, Russian business newspaper Kommersant reported, according to TechCrunch.
DST invested $200 in Facebook earlier this year, and then it picked up options to purchase another $100 million in common stock from existing employees and investors, according to TechCrunch, with a source telling Kommersant the company has invested some $400 million in Facebook to date.
DST purchased the common stock at $14.77 per share, TechCrunch reported.