Facebook gets an additional $500 million??
This one is pure rumour so far as it is coming from none other than... Fake Steve Jobs. Anyway, he says that facebook also took an additional $500 million (on top of Microsoft's $240 million investment) from two hedge funds. Lets wait and see if it is fact or fiction...developing
Microsoft Invests in Facebook
Yesterday the rumour mill was finally silenced when Microsoft and facebook announced the $240 Million investment in facebook. Microsoft's money buys them a 1.6% stake in facebook and gives them international advertising rights until 2011 on facebook's non-usa sites. What non-usa sites you may ask? Well, facebook appears to be working hard at getting non-English versions of facebook ready for launch in the near future.
The Wall Street Journal Online reports that Google was still trying to get the deal up until the last minute.
The amount invested is far less than the 500 - 900 million dollars that was rumoured but the valuation was rumoured to be between 10 and 15 billion dollars. This transaction places a $15 Billion valuation on facebook now.
We think this is a good move by facebook to get some cash in the bank and focus on bringing the property to profitability. Mr. Zuckerberg has done an amazing job this far, now he has the dosh and Microsoft behind him to continue into the stratusphere. Lets see if he can deliver. We sure hope so!
