Facebook Finally Sells (a little) Stake in Company
Posted on October 24, 2007 - Filed Under Technology
After previously turning down a rumored 1 billion dollar buyout offer from Google, Facebook has sold some of its stake to Google competitor, Microsoft. Mark Zuckerberg better not let Microsoft muscle him and let them turn it into the spam monstrosity that is My Space.
SAN FRANCISCO (AP) — Rapidly rising Internet star Facebook Inc. has sold a 1.6 percent stake to Microsoft Corp. for $240 million, spurning a competing offer from online search leader Google Inc.
The deal announced Wednesday after several weeks of negotiation values Palo Alto-based Facebook at $15 billion — less than four years after Mark Zuckerberg started the online social networking site in his Harvard University dorm room.
Zuckerberg says that he wants to wait about another 2 years before an d IPO. Buying that stock is one piece of advice i don’t need to get from my broker or online service like Gorilla Trades.
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