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Microsoft Beats Google for Facebook DealOct 24 2007 | Microsoft, Social Networks |
Sexy start-ups seem to love Microsoft lately. At least that’s the way it seems on the heels of the latest report that Microsoft has signed an agreement to sell advertisements from outside the U.S. on Facebook and will acquire a minority stake in the company. Seemingly as important as actually inking the deal is the fact they beat Google in this closely watched contest.
Here’s the terms of the deal:
* Microsoft will invest up to $250 million for a minority stake in Facebook (people are saying that the valuations being discussed for Facebook are as high as $15 BILLION)
* This deal now expands on their previous advertising agreement (which was solely for the US) and focuses on international versions of the Facebook service. Microsoft will be able to run ads on those sites.
Minority stake and basically complete control over advertising on one of the hottest sites on the Net? Not a bad day at all for Microsoft…
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Posted by Chris Winfield at 4:40 pm
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