diTii.com Digital News Hub

Sign up with your email address to be the first to know about latest news and more.

I agree to have my personal information transfered to MailChimp (more information)

Nov052007

Steve Ballmer defends Facebook stake

Microsoft Corp Chief Executive Steve Ballmer said on Monday his firm’s acquisition of a 1.6 percent stake in socializing Web site Facebook for $240 million was an important investment, not a mistake.

“We didn’t make a mistake,” Ballmer told reporters on the sidelines of a business conference in Mumbai.

Analysts have said Microsoft paid a steep price on a bet that the three-year-old firm would be able to transform itself into a hub for all sorts of Web activity.

“The valuation of Facebook is still to be determined. Certainly today, it’s very, very popular. So for a company like ours that wants to be a pre-eminent presence in this space, it’s very important for us,” Ballmer said.

Full Article

Microsoft, Steve Ballmer, Facebook, Social Media, Social Networking

Share This Story, Choose Your Platform!

Get Latest News

Subscribe to Digital News Hub

Get our daily newsletter about the latest news in the industry.
First Name
Last Name
Email address
Secure and Spam free...