Beats Google and Yahoo
Last modified on Thursday, 25 October 2007 22:30
Software giant Microsoft has won a stake in the social networking upstart, Facebook.
Microsoft beat out Google and Yahoo for the "prize" of investing $240 million for a 1.6 percent stake in Facebook. It will mean that Facebook, which will bring in about $150 million in revenue this year, is now valued at $15 billion.
The three major players have been fighting for two months to invest in and forge close ties with Facebook. Microsoft will sell the banner ads appearing on Facebook outside of the United States, splitting the revenue with Facebook.