Microsoft Invests $240 Million in Facebook

I mentioned Facebook some time ago HERE and how I thought it was similiar to SharePoint. Well, when I had Bill and Steve over for dinner the other day I mentioned it. They got all excited and did this:

Microsoft Invests $240 Million in Facebook

Microsoft yesterday announced a $240 million deal with Facebook, giving the technology giant a minority stake in the popular social networking site and the exclusive rights to sell worldwide advertisements that target Facebook’s 50 million members.

Facebook, which is second to MySpace among social networking sites, in recent months has become a hot property as a magnet for Internet advertisers. Google reportedly sought a similar deal with Facebook.

In 3 1/2 years, Facebook — a site that allows its users to exchange messages, share photos and showcase their network of online friends — has won an audience big enough to bring in $125 million in ad revenue, the estimate for this year, according to eMarketer, a market research firm.

The companies did not disclose details but said the deal values Facebook at $15 billion.

Full Disclosure for the Humor-Impaired: Bill Gates and Steve Ballmer were not over my house for dinner (that night).

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