Wednesday, October 24, 2007

Facebook and Microsoft Expand Strategic Alliance

I guess sometimes even Google doesn't have the right bid...

Facebook and Microsoft Corp. today announced that the two companies would expand their advertising partnership and that Microsoft will take a $240 million equity stake in Facebook’s next round of financing at a $15 billion valuation. Under the expanded strategic alliance, Microsoft will be the exclusive third-party advertising platform partner for Facebook, and will begin to sell advertising for Facebook internationally in addition to the United States.

Facebook and Microsoft Expand Strategic Alliance: Two companies expand advertising deal to cover international markets, Microsoft to take equity stake in Facebook.

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