While every bodies attention is focused on the fire storm and is destruction in Southern California, some interesting business news has been taking place in Northern California. This is one reason why it is always good to a wide perspective of what is happening around the country and the world.Microsoft, the software giant has bought a share of Facebook. For $3 billion Microsoft gets 20% share of the company. This makes Yahoo's earlier offer for to buy the company for a mere one billion look weak. I have not seen any number for Google was offering, but I am sure it fell short to what Microsoft bid.
What would pay for a piece of Facebook? It is number #2 social networking website behind My Space. Facebook boasts of over 50 million active users. Expected profits for this year is in the $30 million range.
If you compare Facebook and MySpace, Facebook maybe leave MySpace in the dust before the end of the year.
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