Financial Times wrote:
Microsoft on Wednesday took a $240m stake in Facebook, the online social network, a move that puts a value on the site, which has yet to make a profit, of $15bn.
The cash payment equates to a 1.6 per cent stake in Facebook, which is currently growing faster than the top social networking site MySpace, owned by News Corp.
Facebook has nearly 50m users and its membership grew more than 6 per cent in September, compared to MySpace growth of 1 per cent to 107m users, according to the comScore research firm.
Kevin Johnson, president of Microsoft’s Platform and Services division, said its investment in Facebook was justified by the service’s growth opportunities.
“They have the opportunity to get to 200m-300m users, we think that’s in the realms of possibility. If you combine that with monetisation and modest average revenues per user, then you can get very quickly to these valuations."
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