Microsoft has invested $240 million (2 percent stake) in Facebook at a valuation of $15 billion and Microsoft gets the rights to sell third-party ads on the Facebook network. It’s been rumored that Facebook got an additional $500 million from two New York hedge funds. Currently, Facebook has a jaw-dropping $15 billion valuation, suck for MySpace who only got 500 million.
Facebook also launched Facebook Mobile
Facebook Platform for Mobile allows applications to integrate with and leverage Facebook's core mobile services.
There are two primary areas for mobile integration: 1.) Applications can have a presence on Facebook's XHTML website (m.facebook.com) in the form of profile boxes and canvas pages and 2.) Applications can leverage Facebook's SMS service to directly interact with users via text messaging.
Users will be able to interact with applications that they have installed as well as add new applications from both the XHTML site and via SMS.
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