Microsoft's Facebook deal not a "mistake"
Microsoft's Facebook deal not a "mistake"
(Tue, 6th November 2007)
The chief executive of software giant Microsoft has defended the company's purchase of a stake in social network site Facebook, stating that the deal was not a "mistake".
Steve Ballmer told Reuters that the 1.6 per cent of Facebook which Microsoft bought last month was the correct move for the firm, despite analysts claiming the $240 million (£115 million) price tag was too high.
The deal valued Facebook - which was set up by Harvard University student Mark Zuckerberg - at $15 billion, just over three years after it was launched. Mr Ballmer claimed that it was too early to say what the value of Facebook is.
He told the news agency: "The valuation of Facebook is still to be determined. Certainly today, it's very, very popular. So for a company like ours that wants to be a pre-eminent presence in this space, it's very important for us."
The number of people using Facebook grew by 366 per cent between January and July this year, according to comScore.
Related Articles
Editor's Choice
BT Broadband Option 1 is the standard package from BT Broadband and is an excellent deal for .. more info »
Featured Offer
BT Broadband Option 1 is the standard package from BT Broadband and is an excellent deal for .. more info »
Newsletter
