10/24: Microsoft Gets Facebook Stake; Pays $240 Million for 1.6 Percent
Posted by Patrick
Brad Stone of The New York Times reports that Microsoft has topped Google and Yahoo! in the battle to acquire a stake in Facebook.
The two companies said on Wednesday that Microsoft would invest $240 million for a 1.6 percent stake in Facebook. The investment values the three-year-old Facebook, which will bring in about $150 million in revenue this year, at $15 billion.
The deal ends two months of jockeying between three major Internet players for the right to invest in and forge close ties with Facebook.
The deal ends two months of jockeying between three major Internet players for the right to invest in and forge close ties with Facebook.
