Wednesday, October 24, 2007

Microsoft Buys Facebook Stake

Redmond, Washington-based software giant Microsoft said today that it has invested $240M in Palo Alto-based online social networking web site Facebook, at a valuation of $15 billion for the firm. Microsoft said that it will become the exclusive third party advertising platform for Facebook as part of the investment. Microsoft said that the investment will come as part of Facebook's next round of financing.