Facebook worth $5bn less as recession bites

The Russian investors Digital Sky Technologies (DST) paid $200m (£125m) for a 2 per cent stake in Facebook yesterday, valuing the social networking site at $10bn – or two-thirds of what it was worth 18 months ago. Facebook, which was founded in 2004 and remains a private company, sold a 1.6 per cent stake to Microsoft in October 2007 for $240m. That investment valued the whole company at $15bn. The social networking site, which has more than 200 million users, said last night that DST was also looking to buy $100m of stock for existing…

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