Microsoft buys 1.6 percent stake in Facebook
Posted on October 24th, 2007 by Startup Addict
Microsoft buys Facebook stake for $240 Million which is an incredibly expensive 1.6% interest in the hottest web property on the market. The $240 million price tag is clearly based on a $15 billion dollar valuation that I touched on in a post earlier this month (absurd amount mind you).
Most Facebook deal trackers figured the news would announce yesterday. Especially after watching John Battelle’s interview with Mark Zuckerberg at the Web 2.0 Summit where he shocked Battelle with the opening Q&A. Although Mr. Battelle’s humor is priceless. Check it out below
Facebook now has all the ingredients for the next poster child story of a true web startup gone from seed to orbit.
(1) It started in a college dorm room (either there or a garage).
(2) Experienced critical mass in 6 months to a year.
(3) A 20-something created it.
(4) Refusal of first 10 figured offer from conglomerate.
(5) Next stop IPO.
I scored the story at Yahoo Finance
