Microsoft Corp. (NASDAQ: MSFT) ended up owning. 1.6% of Facebook, the second largest social network. The investment of $240 million values the private company at $15 billion.
The Wall Street Journal writes that "the Microsoft agreement comes after intense lobbying by Microsoft and Google (NASDAQ: GOOG) for Facebook's hand. In recent weeks, executives including Microsoft Chief Executive Steve Ballmer have courted the three-year-old Palo Alto, Calif., company."
Descriptions of the deal indicate that it focuses on helping Facebook to expand overseas with Microsoft supplying support by selling display advertising in the new markets.
But exactly what the world's largest software company gets for its money is a little unclear. It does keep Facebook out of the hands of Google.
Douglas A. McIntyre is an editor at 247wallst.com.
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Reader Comments (Page 1 of 1)
11-03-2007 @ 2:45PM
Jeff Renfro said...
Which is the best stock to buy to be stable and safe for the long haul.
Jeff Renfro
11-04-2007 @ 12:43AM
jrenfro said...
I would like to invest about $3500 in a good stable stock. Where and which would be good to start?