Microsoft Corp. agreed to invest $240 million for a 1.6% stake in Facebook Inc. that values the social-networking site at $15 billion, beating Google Inc. in a closely watched contest. As part of the deal, the two companies expanded their existing advertising agreement. Microsoft, which previously handled Facebook’s U.S. ad sales, will now also sell the site’s international advertising.
Via WSJ.
I'm Scott Hurff. I'm 24. I founded Fuego, a newsletter for classy, trendy guys who like GQ but haven't hit their mid-life crisis yet. I work at ChannelAdvisor in Raleigh, NC looking at new business opportunities. Previously, I was an EIR at Kodiak Venture Partners in Boston. I went to Wake Forest University. I am from Dublin, Ohio and started a company that makes groups easy. Here I talk about entrepreneurship, politics and technology.
Cool fact: I'm in the Congressional Record.
Let's chat. Drop me an email at scotthurff (at) gmail (dot) com, Skype me at scotthurff, or IM me at Scorpyan.
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November 12th, 2008 at 7:22 pm
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