Microsoft just invested $240 million in Facebook for rights to be the sole advertiser on the social networking site. Microsoft’s 1.6 percent stake would put Facebook’s valuation at $15 billion, ignoring Microsoft’s expected profits from advertising, which I am sure must have been really high, or such a huge investment would not have been approved.
Via Business Week
Facebook is visiting Columbia tomorrow!
Update: And now they have my pizza-stained resume.