Microsoft Buys Stake in Facebook - pay $240 million for a 1.6 percent stake in Facebook -
Microsoft has won a high-profile technology industry battle with Google and Yahoo to invest in the social networking upstart Facebook.
The two companies said on Wednesday that Microsoft would pay $240 million for a 1.6 percent stake in Facebook. The investment values Facebook, which is three and a half years old and will bring in about $150 million in revenue this year, at $15 billion.
The deal throws the value of the holdings of Facebook investors into the stratosphere. Mark Zuckerberg, the 23-year-old Facebook founder who followed the path of Bill Gates by dropping out of Harvard to build a company, owns a 20 percent share that may now be worth as much as $3 billion. Accel Partners, the venture capital firm that invested $12.7 million in May 2005, now holds stock that could be worth $1.65 billion.
Read more -
http://www.nytimes.com/2007/10/25/technology/25facebook.html?emc=eta1
Microsoft has won a high-profile technology industry battle with Google and Yahoo to invest in the social networking upstart Facebook.
The two companies said on Wednesday that Microsoft would pay $240 million for a 1.6 percent stake in Facebook. The investment values Facebook, which is three and a half years old and will bring in about $150 million in revenue this year, at $15 billion.
The deal throws the value of the holdings of Facebook investors into the stratosphere. Mark Zuckerberg, the 23-year-old Facebook founder who followed the path of Bill Gates by dropping out of Harvard to build a company, owns a 20 percent share that may now be worth as much as $3 billion. Accel Partners, the venture capital firm that invested $12.7 million in May 2005, now holds stock that could be worth $1.65 billion.
Read more -
http://www.nytimes.com/2007/10/25/technology/25facebook.html?emc=eta1
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