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Facebook investor pumps cash into Zynga
Dec 16th 2009 at 15:23 by Ben Parfitt
A Russian investment firm that previously invested $200m in social network leader Facebook has backed Mafia Wars and FarmVille developer Zynga to the power of $180m.
The New York Times reports that Digital Sky Technologies’ influx of cash has raised several eyebrows on the North American West Coast, both amongst Silicon Valley investors and those who have already questioned the suitability of DST’s backers.
The move means that Zynga now has an approximate valuation of between $1.5bn-$3bn.
“People did not believe that this Chinese model of micropayments and social games was real,” DST’s chief executive Yuri Milner stated. “I am pretty convinced this market will have tremendous pick-up on the Western side of the world.”
It was revealed last month that Zynga is being targeted by a lawsuit claiming that it has indulged in dishonest advertising techniques.
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