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Facebook flogs off shares for $200m

Social networking site Facebook has flogged off 1.96% of its stocks for a reported fee of $200m (£126m). The willing buyer is said to be the Russian internet firm Digital Sky Technology.

The investment means that Facebook can be valued at approximately $10bn. The site's founder Mark Zuckerberg spoke publicly of Digital Sky Technology hailing the the firm's recent "impressive growth and financial achievements".

Facebook's CEO also talked up his site's seemingly irrepressible rise: "This investment demonstrates Facebook's ongoing success at creating a global network for people to share and connect".

It's not the first time that the social networking phenomenon has sold shares with Microsoft buying a reported 1.6% share in Facebook for $240m back in 2007.

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