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Wednesday Oct 24, 2007
Breaking: Microsoft Buys Facebook Stake, Beats Google
Microsoft just scored a $240 million minority stake in Facebook, beating out Google and pushing ahead its plans to become a dominant force in online ads, according to The Wall Street Journal and relayed by MediaPost.
The $240 million deal gives Microsoft a 1.6% stake in Facebook, which values the popular social networking company at $15 billion.
Microsoft now plans to sell advertising on Facebook outside the US. Previously it was handling U.S.-based ad sales. Facebook also has extensive mobile access options, including a made-for-iPhone mobile page.
Microsoft to Take Stake in Facebook, Beating Google in Heated Battle [WSJ via MediaPost]
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