Microsoft buys into Facebook - 1.6% for $240M
That's a whole lotta gifts.
The 1.6% stake in Facebook values the hugely popular social networking site at $15bn.
Facebook spurned an offer from Microsoft's rival Google, which was also keen to invest the site. Microsoft will also sell internet ads for Facebook outside the United States as part of the deal that took several weeks of negotiating.
Microsoft already provides banner advertising and links on the US site.
Mark Zuckerberg started the online social networking site in his Harvard University dorm room less than four years ago.
The 1.6% stake in Facebook values the hugely popular social networking site at $15bn.
Facebook spurned an offer from Microsoft's rival Google, which was also keen to invest the site. Microsoft will also sell internet ads for Facebook outside the United States as part of the deal that took several weeks of negotiating.
Microsoft already provides banner advertising and links on the US site.
Mark Zuckerberg started the online social networking site in his Harvard University dorm room less than four years ago.
Labels: technology, web 2.0
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