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homepage = [http://dst-global.com/ dst-global.com]
homepage = [http://dst-global.com/ dst-global.com]
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'''Digital Sky Technologies''' ('''DST''') is an international [[investment firm]] focused solely on the [[Internet]] sector. The firm was founded by [[Yuri Milner]] and emerged out of [[Mail.ru]] Group. Today, DST is fully independent of [[Mail.ru]] Group and its investments include [[Facebook]], [[Zynga]] and [[Groupon]].<ref>[http://www.rns-pdf.londonstockexchange.com/rns/7389V_-2010-11-5.pdf Mail.ru Group prospectus November 2010]</ref><ref>[http://www.facebook.com/press/releases.php?p=103711 Facebook press release May 2009]</ref><ref>[http://blog.zynga.com/2009/12/zynga-receives-investment-from-digital-sky-technologies-.html Zynga press release December 2009]</ref><ref>[http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20100419005828&newsLang=en Businesswire article on DST Groupon investment April 2010]</ref>
'''Digital Sky Technologies''' ('''DST''') is an international [[investment firm]] focused solely on the [[Internet]] sector. The firm was founded by [[Yuri Milner]] and emerged out of [[Mail.ru]] Group. Today, DST is fully independent of [[Mail.ru]] Group and its investments include [[Facebook]], [[Zynga]] and [[Groupon]].<ref>[http://www.rns-pdf.londonstockexchange.com/rns/7389V_-2010-11-5.pdf Mail.ru Group prospectus November 2010]</ref><ref>[http://www.facebook.com/press/releases.php?p=103711 Facebook press release May 2009]</ref><ref>[http://blog.zynga.com/2009/12/zynga-receives-investment-from-digital-sky-technologies-.html Zynga press release December 2009]</ref><ref>[http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20100419005828&newsLang=en Businesswire article on DST Groupon investment April 2010]</ref>. DST is heavily financed by Russian Mafia and associated with the former KGB.


== Investments ==
== Investments ==

Revision as of 23:03, 16 June 2011

Digital Sky Technologies
Company typePrivate
IndustryInternet
Founded2005
Key people
Yuri Milner, CEO and Managing Partner;
John Lindfors, Partner;
Alexander Tamas, Partner;
Rahul Mehta, Principal;
Shou Zi Chew, Investment Manager
Websitedst-global.com

Digital Sky Technologies (DST) is an international investment firm focused solely on the Internet sector. The firm was founded by Yuri Milner and emerged out of Mail.ru Group. Today, DST is fully independent of Mail.ru Group and its investments include Facebook, Zynga and Groupon.[1][2][3][4]. DST is heavily financed by Russian Mafia and associated with the former KGB.

Investments

The firm became known globally after leading an investment of $200 million in Facebook at a $10 billion valuation in May 2009 [5] and launching a tender offer of $100 million to the employees of Facebook in July 2009.[6] Subsequently the firm continued to buy shares in the company and is now one of the largest institutional shareholders in Facebook.[7] In January 2011, DST and Goldman Sachs co-led a $500 million investment round in Facebook, valuing the company at $50 billion.[8]

In December 2009, DST led the $180 million investment in Zynga which had a primary and a secondary component.[9]

In April 2010 DST led a $135 million investment in Groupon at a rumored $1.35 billion valuation.[10] Subsequently, DST invested again as part of Groupon’s $950 million round in January 2011.[11]

DST’s way of structuring deals, where they buy both preferred stock from the company and common stock from employees, is becoming a new way to invest in startups. In fact, some industry people recognise these deal structures as “DST deals”.[12]

Yuri Milner, in an interview in February 2010, mentioned that DST monitors close to 50 companies globally and that these companies can be investment opportunities. DST plans to invest more than $1 billion in social web companies around the world over the next five years.[13]

Relationship with Mail.ru Group

Yuri Milner is the founder of both Mail.ru Group and DST. He currently serves as the non-executive Chairman of Mail.ru Group and as the CEO of DST.[14][15] Mail.ru Group was originally called Digital Sky Technologies and started making international investments from its balance sheet. As part of Mail.ru Group’s IPO the company renamed itself to its current name.[16] DST was formed as a separate entity, initially called DST Global to co-invest with Mail.ru Group. Post Mail.ru Group’s IPO, DST is the sole vehicle for further international investments. The company is now fully independent of Mail.ru Group.[17]

Relationship with Goldman Sachs

DST has strong ties to Goldman Sachs.[18] The majority of DST’s partners and employees have previously worked at Goldman Sachs. Alexander Tamas joined DST from Goldman Sachs in 2008 and John Lindfors, a previous partner at Goldman Sachs, joined DST in 2010.[19] Other ex-Goldman Sachs employees include Rahul Mehta [20] and Shou Zi Chew.[21] In January 2011, DST was rumored to have orchestrated an investment into Facebook and brought Goldman Sachs into the deal.[22]

References

  1. ^ Mail.ru Group prospectus November 2010
  2. ^ Facebook press release May 2009
  3. ^ Zynga press release December 2009
  4. ^ Businesswire article on DST Groupon investment April 2010
  5. ^ Facebook press release May 2009
  6. ^ Techcrunch article July 2009
  7. ^ Business Insider article
  8. ^ Facebook Press Release Jan 2011
  9. ^ Zynga press release December 2009
  10. ^ Businesswire article on DST Groupon investment April 2010
  11. ^ Businesswire article on Groupon investment round January 2011
  12. ^ Techcrunch article January 2010
  13. ^ Businessweek article February 2010
  14. ^ Mail.ru Group prospectus November 2010
  15. ^ AllThingsD article January 2011
  16. ^ Mail.ru Group prospectus November 2010 page F-100
  17. ^ Mail.ru Group prospectus November 2010
  18. ^ Forbes blog article January 2011
  19. ^ Techcrunch article June 2010
  20. ^ Business Insider article January 2011
  21. ^ LinkedIn Profile
  22. ^ Businessweek article January 2011
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