Microsoft Invests $240 Million in Facebook
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From Ars Technica
All of the recent flirting between Facebook and Microsoft has turned into hot equity action, as the two companies have announced that Microsoft will make a $240 million investment in the social networking site. In addition, Microsoft will begin selling ads for Facebook outside of the US and will become the site’s exclusive ad provider in the US.
From ComputerWorld
Facebook Inc. will sell a $240 million minority stake to Microsoft Corp., which as part of the deal will also expand the advertising services it provides to the social networking Web site, the companies said today.
The size of the ownership stake Microsoft will take during Facebook’s next round of financing puts Facebook’s valuation at $15 billion. Google Inc. had reportedly been courting Facebook as well.
From NY Times
Microsoft has won a high-profile technology industry battle with Google and Yahoo to invest in the social networking upstart Facebook.The two companies said on Wednesday that Microsoft would invest $240 million for a 1.6 percent stake in Facebook. The investment values the three-year-old Facebook, which will bring in about $150 million in revenue this year, at $15 billion. Continue reading »