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Canada Business News and Press Releases
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(I-Canada-News.Com, March 16, 2013 ) Toronto, Canada -- A Russian investor who took a chance on Facebook in its inception, which ultimately made him a billionaire, thinks three websites will continue to form the way we use the internet in 100 years time.
Yuri Milner spoke on what websites he believe will still be a part of our cyber world in the next century. The main two that will put anyone off their guard were Google and Wikipedia. Milner's investment firm, Digital Sky Technologies, has no immediate vested interest in either company either. Perhaps as equally unsurprising, Milner's third site is his own prize investment, Facebook.
“All three have amazing network effects,” said Milner, the co-founder and chief executive officer of DST. “Chances are that those are long survivors.”
Milner was, up until 2009, a relatively unknown entity. His investment in Facebook in 2009 changed all that, when he invested in a $10 billion website that has grown by over 600% since then. Milner has expanded his own Silicon Valley portfolio to include such sought-after investments as Twitter and LinkedIn, in order to expand his overall influence.
After Milner sold 45.7 million shares of Facebook in the company's May 2012 initial public offering, DST and its owned companies still had 13.8 million shares, which were valued at $387 million. Bloomberg Billionaires Index estimated that Milner's net worth is now exceeding $1 billion.
Milner noted that Google appears to be almost integral to the internet in its current form. “If Google is turned off,” Milner said, “I don’t think we’ll be able to function the same way we used to function because we outsource some significant portions of our brain already to Google.”
He added that Wikipedia has staying power due to it not holding any competition. “I don’t think you need, like, five competing Wikipedias,” he said.
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