Facebook’s (face)value

In two blog posts made last week, I wrote about the popularity of Facebook and how its creator Mark Zuckerberg turned down a good offer by Yahoo last year. Now, we know why…Mr Zuckerberg was just waiting for the next big offer! And it came a last week from none other than IT giant company Microsoft!

Cyberspace has been busy screaming ‘Microsoft buys into Facebook’ since the announcement was made last Wednesday. Microsoft paid a whopping amount of US$240 million for just 1.6% stakein Facebook, putting the value of Facebook at a staggering US$15 billion! No wonder Mark Zuckerberg can’t stop smiling!

Microsoft’s purchase is an endorsement of the growing popularity of Facebook, and how true, with 200, 000 signing up as members each day, Facebook looks set to be the most popular social networking site around!