Russian Investors Throw a further $300 Million into Facebook

Russian investment group Digital Sky Technologies (DST) has invested a further $300 Million into Facebook, taking ownership from 1.96% to 5%.

The Russian investment group earlier this year made two purchases of the Silicon Valley based social networking. The $300 million of shares it bought at that time valued Facebook at $10 billion.

Now Russian business paper Kommersant reports that DST has invested up to $400 million total in Facebook, buying at the same valuation and bringing its stake to more than 5 percent.

DST was also part of a $180 million funding announced this week in San Francisco social gaming company Zynga Inc., whose Farmville and Mafia Wars games are two of the most popular on Facebook.

“Our earlier investment in Facebook and now in Zynga underscores our premise that social networking and social entertainment will define the next generation of the web,” DST head Yuri Milner was quoted as saying in a release from Zynga.

Facebook has grown to 350 million users and reportedly earns revenues of above $550 million in 2009.