Microsoft has invested $240 million in Facebook at a valuation of $15 billion and gets the rights to sell third-party ads on the Facebook network. It is 1.6 percent stake.
Facebook CEO Mark Zuckerburg must be on cloud nine now :)
Google lost their battle to Microsoft in getting rights to acquire this percent of stake. Earlier in 2006, Terry Semel then the CEO of Yahoo, tried to buy Facebook for $1billion, but it was turned down by Zuckerburg.
Should Google be afraid of Facebook?
Thursday, October 25, 2007
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment