This afternoon, Microsoft beat out Google to buy a 1.6% share of Facebook for a whopping $240 million, implicitly valuing Facebook at $15 billion. With Facebook's large user base of over 41 million, this could help Microsoft kickstart its lagging advertising network. Microsoft will handle Facebook's international advertising.
Though Google lost it still has a large piece of the social networking market, as it owns Orkut and provides ads for MySpace (the largest social networking website with a user base of over 70 million).
Facebook is rumored to be thinking about issuing an IPO, even as early as next year. Will Facebook be the next Google in terms of public offering? Only time will tell.
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