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Article: Facebook chooses MS over Google: Microsoft has landed a deal to buy a minority stake in Facebook and provide more advertising services to it.(Broadband & Internet: SOCIAL NETWORKING)
- Article from:
- Australian PC World
- Article date:
- December 1, 2007
- Author:
CopyrightCOPYRIGHT 2007 IDG Communications Pty. Ltd - Australia. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Facebook will sell a $US240 million minority stake to Microsoft, which as part of the deal will also expand the advertising services it provides to the social networking phenom, said the companies.
The size of the ownership stake Microsoft will take during Facebook's next round of financing puts Facebook's valuation at a whopping $US15 billion. Google had reportedly been courting Facebook as well.
In addition to the ownership piece, Microsoft will also extend its existing agreement to provide banner ads to Facebook in the US. With this deal, Microsoft will become Facebook's exclusive third-party ad platform, as well as provide Facebook ads ...