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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]

Posted by Jamie | 05:14 PM

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