To the Point
Microsoft Bets on Facebook as Revolutionary Social Network
Rupert Murdoch bought MySpace two years ago and at least some people laughed. Why spend hundreds of millions of dollars for what might be a cyber fad? But now Microsoft has invested $240 million for just 1.6% of Facebook , a similar social networking site. That values this start-up at around $15 billion.
By Jim Sterngold • • 1 min readRupert Murdoch bought MySpace two years ago and at least some people laughed. Why spend hundreds of millions of dollars for what might be a cyber fad? But now Microsoft has invested $240 million for just 1.6% of Facebook, a similar social networking site. That values this start-up at around $15 billion. Is the tech bubble back or is Microsoft crazy like a fox? Robert Guth reports on technology for the Wall Street Journal.