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23 March 2017 19:59 (South Africa)

Russian digital gamers buy more Facebook shares

Russian venture capital company, Digital Sky Technologies, which produces popular Facebook games such as FarmVille and Mafia Wars, has now bought another $200 million in common stock in Facebook at $14.77 per share. The new stake gives DST about 5% of the social networking site. This could put the Russians on the road to riches. When they first bought into the company, analysts thought Facebook's $15 billion market valuation was really worth maybe $3 billion. But since then, Facebook has garnered another 150 million users and finally started earning revenues. DST might just have caught the crest of the wave on this one. Read more: Moscow Times, Mashable

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