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Microsoft will buy a 1.6 percent stake in Facebook and agreed to sell ads for Facebook overseas, according to Bloomberg.com.
“The company will pay $240 million for the stake, valuing Palo Alto, California-based Facebook at $15 billion, said Adam Sohn, a director in Microsoft’s online services group.
Microsoft, the biggest software maker, is seeking to tap the surge of visitors and advertisers on social-networking sites. Microsoft already has an agreement to sell Facebook banner ads in the U.S. through 2011. By winning the exclusive international deal with Facebook, the owner of the second-most-popular social site, Microsoft also benefits from growing demand abroad.“
Something tells me Google is not happy.
TechCrunch is live blogging the press conference.
4 responses so far ↓
1 Stefanie // Oct 24, 2007 at 5:24 pm
i’m anxious to see how the industry will be in 2 years. it’s like battle of the sexes.
2 Rick Lea // Oct 24, 2007 at 6:26 pm
Looks like they still believe that display advertising is going to win over search, not!
3 Revenue’s Recap of the Week » RevenueToday // Oct 26, 2007 at 12:49 pm
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4 brazilman // Mar 26, 2008 at 11:33 pm
Personally, I think technology always dictates marketing trends online so I think the thing to invest in is video advertising. I think the next big model will be a youtube with ads before the videos.
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