Friday, 26 October 2007
Microsoft Gets a Piece of the Facebook Pie
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Microsoft made headlines yesterday when it confirmed that it will be investing 240 million dollars to gain a 1.6 percent state in popular networking site Facebook.The deal--which now values the social … |
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Microsoft made headlines yesterday when it confirmed that it will be investing 240 million dollars to gain a 1.6 percent state in popular networking site Facebook.
The deal--which now values the social networking site, at 15 billion dollars--will see the Redmond, Washington based Microsoft hold exclusive rights to Facebook’s advertising platform thus, not only being able to sell advertisements in the U.S as per its previous agreement but now being able to sell internationally as well.
"Making this investment and expanding this partnership will position Microsoft and Facebook to better take advantage of advertising opportunities around the world," said Kevin Johnson, president of the Platforms & Services Division at Microsoft, in a statement.
Facebook declined a 1 billion dollar takeover from Internet giant Yahoo Inc last year.
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