Facebook Stock Getting Hotter as DST Moves In Again
Facebook’s Russian investor, Digital Sky Technologies, is in the process of purchasing more Facebook shares — from former employees — sources tell us. This follows the employee stock sale to DST, which closed in August. The amount DST is looking to spend could be around $200 million or $300 million, says one source, although a Wall Street Journal article from August reported “at least $100 million” and another report from Reuters today said “up to $100 million.”
Why does this matter? Although Facebook has repeatedly said it has no near-term plans for an initial public offering, the market appears to be heating up.
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