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Mhedayat on 2007-10-27 - Tags advertising , community , del.icio.us , facebook , imported , microsoft , socialnetworking

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Microsoft invests $240M in Facebook, as Facebook develops ad product

By Doug Sherrets 10.24.07

Updated

Microsoft has snagged a deal to invest $240 million into popular social network Facebook, valuing the company at $15 billion — a 1.6 percent stake. Microsoft has also agreed to advertise on Facebook in international markets.

We listened in on a well-staged official press conference call that the two companies did this afternoon — you can read most of the same information in the press release. Here are some highlights: Microsoft needs the international ad agreement because Facebook says nearly 60 percent of its 50 million active users are based outside of the US. Facebook also claims to be gaining 200,000 new users per day, worldwide.

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Facebook’s emergence into a major Internet player has been compared to Google’s rocketship rise a few years ago.