Microsoft takes a stake in Facebook

Microsoft takes a stake in Facebook

Yesterday Microsoft won a deal over Google to secure a 1.6 per cent deal with the online social networking site, Facebook.Microsoft invested $240m in this deal with the fastest growing social networking site on the internet, with growth exceeding that of MySpace. The agreement gives Microsoft exclusive third-party advertising rights to sell advertising for Facebook both internationally as well as in the United States." Approaching 50 million users, Facebook membership grew more than 6 per cent in September, to 107m users, compared to MySpace growth of 1 per cent.* For anyone who thinks online social networking is a fad, this new deal between Facebook and Microsoft is further proof that online social networking is here to stay for some time. * Data taken from comScore research firm