Monday, August 08, 2011

"Tweets on Yuri Milner"

Yesterday the Russian investor Yuri Milner and his venture group Digital Sky Technologies have been throwing a ton of money behind Twitter. Bloomberg reports that Milner’s investment will make up about half the funding round of $800 million Twitter is aiming at, valuing the company at $8 billion.

Digital Sky Technologies (DST) has been backing Facebook since May 2009, when it paid $200 million for a 1.96% stake (according to a source close to the company this is now close to 10% ). Digital Sky Technologies has also invested about $150 million in Groupon, a similar amount in Zynga, Spotify and Airbnb.

In a quote, DST’s Yuri Milner said: “Twitter is one of the few companies that has truly changed the world. Twitter’s astonishing growth is a testament to how important it is becoming to more people every day, and why we couldn’t pass up the chance to be a bigger part of its future.”

by Marc Van Steyvoort, Guest Author,