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Facebook and Microsoft Expand Strategic Alliance
By Brian | November 1, 2007
Microsoft to take equity stake in Facebook; companies expand advertising deal to cover international markets.
PALO ALTO, Calif. and REDMOND, Wash., Oct. 24 /PRNewswire-FirstCall/ — Facebook® and Microsoft Corp. today announced that Microsoft will take a $240 million equity stake in Facebook’s next round of financing at a $15 billion valuation, and the companies will expand their existing advertising partnership. 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.
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