Microsoft Takes Stake in Facebook
Microsoft actually managed to beat Google at an acquisition, or rather, in this case, a partial stake in a company. Google had also been rumored to have been pursuing a minority stake in Facebook.
The final deal resulted in a 1.6 percent stake in the social-networking company, notably smaller than the 5 to 10 percent that had been talked about in recent weeks.
"We are pleased to take our Microsoft partnership to the next level," Owen Van Natta, vice president of operations and chief revenue officer at Facebook, said in a statement. "We think this expanded relationship will allow Facebook to continue to innovate and grow as a technology leader and major player in social computing, as well as bring relevant advertising to the more than 49 million active users of Facebook."
The final deal resulted in a 1.6 percent stake in the social-networking company, notably smaller than the 5 to 10 percent that had been talked about in recent weeks.
"We are pleased to take our Microsoft partnership to the next level," Owen Van Natta, vice president of operations and chief revenue officer at Facebook, said in a statement. "We think this expanded relationship will allow Facebook to continue to innovate and grow as a technology leader and major player in social computing, as well as bring relevant advertising to the more than 49 million active users of Facebook."
Based on a 1.6 percent stake, this gives Facebook a value of a whopping $15 billion.
