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Microsoft buys 1.6% of Facebook for $240 million

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Microsoft Corp.'s $240 million investment in Facebook Inc. -- a three-year-old company with more promise than profit -- represents a huge bet that the online advertising boom will continue and the popular social networking site will be among the biggest beneficiaries.

The software giant said yesterday that it will buy a 1.6% stake in Facebook, beating out Google Inc. after intense lobbying.

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{"commentId":1128275,"authorDomain":"mattcoxonline"}

John Battle's opinion here.

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    Reply#1 - Thu Oct 25, 2007 4:26 AM EDT
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