Facebook’s value rises to $10 billion

A few days ago, we reported that Facebook turned down an investment term sheet that placed their value at $8 billion. But it was apparently the board seat the investors wanted and not the valuation that was the hold up. Now that valuation number has jumped to $10 billion thanks to an offer from some new investors, sources tell The Wall Street Journal. Specifically, Digital Sky Technologies, a Russian tech investment company wants to invest $200 million in the social network, according to the report. That would place its preferred stock value at $10 billion. The company would also buy between $100 million and $150 million in common stock at a $6.5 billion valuation. It’s not clear if Facebook has responded in any way. Also not clear is if DST would want a board seat with the investment. But one could imagine that would be a sticking point once again. Though perhaps Facebook will like the $10 billion number — which is closer to the $15 billion valuation it got from Microsoft’s investment in 2007. If Facebook were to accept these terms, and give away a board seat, at least we know what one is worth: About $2 billion. – From TechCrunch