Microsoft acquires a stake in Facebook

Facebook is a lot like Microsoft. They have developed a platform which can be used by other companies to develop their applications on.

And apparently Microsoft likes Facebook so much that they have now acquired a minor stake in the company for big bucks.

The software giant has acquired a 1.6 percent stake in the ever growing social network for a massive $240 million.

This puts the value of Facebook at a staggering USD 15 billion!

Microsoft is already providing advertising solutions to the company.

Kevin Johnson, president of Microsoft’s platforms and services division spoke on this new development: “This is a strong statement of confidence in this partnership and in Facebook.”

Incidentally, this deal has proven that Facebook did the right thing by not accepting an acquisition deal from Yahoo which the market source claimed was worth around USD 1 billion.

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