Ebiz news
Microsoft and Facebook Hook Up
Read more at BusinessWeek and the BBC.
On Oct. 24, the software giant prevailed in its bid for a stake in the social network Facebook. Microsoft agreed to buy a $240 million piece of the company in a transaction that values Facebook at $15 billion.
For Microsoft, the deal underscores the rising importance of online advertising. The arrangement gives Microsoft control over the placement of banner ads on Facebook outside the U.S., where about 60% of Facebook's 49 million active users reside. Microsoft had already reached agreements to sell U.S. banner ads for Facebook through 2011. "It signals an enormous vote of confidence from our largest advertising partner," Kevin Johnson, president of the Platforms & Services Div. at Microsoft, said during a conference call announcing the investment.
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