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August 30, 2008 2:05:28 AM CDT

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Facebook Seeks Hedge Fund Cash After Microsoft Deal

Posted Oct 26, 07 1:12 AM CDT in Technology,  Business 

(Newser) – After raising $240 million from Microsoft, the social networking site Facebook expects to raise a further $260 million from hedge funds and private-equity investors, according to the Wall Street Journal. The cash will be used to fund an international expansion and a new ad revenue system. The investment would put the value of Facebook at $15 billion.

Microsoft becomes the exclusive broker of display ads on international versions of Facebook.  Meanwhile, Facebook is developing a system of its own that will target individual users based on personal information. "We have a good working relationship and are excited about the future," a Microsoft spokesman said.  "We'll both continue to evolve ad products."

Source Wall Street Journal

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Facebook.com's mastermind, Mark Zuckerberg smiles at his office in Palo Alto, Calif. in this Feb. 5, 2007 file photo. Rapidly rising Internet star Facebook Inc. has sold a 1.6 percent stake to Microsoft...   (Associated Press)
Facebook.com's mastermind Mark Zuckerberg smiles at his office in Palo Alto, Calif. in this Feb. 5, 2007 file photo. Rapidly rising Internet star Facebook Inc. has sold a 1.6 percent stake to Microsoft...   (Associated Press)
Facebook founder Mark Zuckerberg listens to a question during a talk at Web 2.0 conference in San Francisco, Wednesday, Oct. 17, 2007. (AP Photo/Paul Sakuma)   (Associated Press)
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Google  • Microsoft  • Facebook  • social networking  • Mark Zuckerberg  • ad revenue


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