Facebook will last 100 years, as will Google and Wikipedia, according to early Facebook investor Yuri Milner, founder of Digital Sky Technologies, who spoke at a talk at SXSW 2013 hosted by Vanity Fair.
Facebook Co-Founder and CEO Mark Zuckerberg teamed up with Google Co-Founder Sergey Brin, Apple Chairman Art Levinson, technology investor Yuri Milner, and 23andMe Founder Anne Wojcicki (Brin’s wife) to launch the Breakthrough Prize in Life Sciences Foundation.
Digital Sky Technologies, a major investor in Facebook, has social networking covered in its home country, as DST owns almost a quarter of Russian Facebook clone VKontakte.
With millions in the bank from a recent investment by DST and a cash-flow positive business, Facebook has no plans to go public in 2010. That’s the latest information from Facebook investor and board member, Jim Breyer, who was speaking at the DLD Conference in Munich Germany. Highlighted by Johannes Kleske of the conference, Breyer stated “We are not planning a near term IPO (near term as in 2010)”. Yuri Milner of DST followed on with, “We have permanent capital, we don’t have to return money to investors so we can go long term. So we’re not planning our exit”.