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Microsoft to Pay $240 Million for Stake in Facebook 277

Posted by ScuttleMonkey
from the facebook-laughing-all-the-way-to-the-bank dept.
Nrbelex writes to mention The New York Times is reporting that Microsoft has beat out Google and Yahoo for a 1.6% stake in Facebook. The investment will cost Microsoft $240 million valuing the total site at somewhere around $15 billion. "The astronomical valuation for Facebook is primarily evidence that Microsoft executives believed they could not afford to lose out on the Facebook deal. Google appears to be building a dominant position in the race to serve advertisements online. Fearing it might lose control over the next generation of computer users, Microsoft has been attempting to match and in some cases block Google's plans, even if that effort is costly."
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Microsoft to Pay $240 Million for Stake in Facebook

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