Microsoft Corp has beaten Google Inc in the rush to partner global social networking online phenomenon, Facebook, reports Associated Press:
SAN FRANCISCO (AP) — Rapidly rising Internet star Facebook Inc. has sold a 1.6 percent stake to Microsoft Corp. for $240 million, spurning a competing offer from online search leader Google Inc.
Culminating weeks of negotiations, the investment announced Wednesday values Palo Alto-based Facebook at $15 billion — a stunning figure for an online hangout started in a Harvard University dorm room less than four years ago.
Microsoft also will sell Internet ads for Facebook as the site expands outside the United States, broadening a marketing relationship that began last year.
“This is a strong statement of confidence in this partnership and in Facebook,” Kevin Johnson, president of Microsoft’s platforms and services division, said during a Wednesday conference call with reporters and analysts. [Source: Associated Press]
Undaunted by its “loss”, Google said that it has plans to wring even more riches from the Internet. Details unknown.
Link to this page
{ 2 trackbacks }
{ 2 comments… read them below or add one }
hmm… i’ve never seen a splog before but i know i would know when i see one
send all replys