December 10th, 2010, 21:37 PM
Facebook rejected Microsoft's $15B offer
At a tech conference in Paris on Friday, a Microsoft executive confirmed that the company made a failed bid to buy Facebook three years ago.
Mark Zuckerberg, CEO of Facebook, turned down an offer of $15 billion from Microsoft CEO Steve Ballmer, according to Fritz Lanman, Microsoft's senior director of corporate strategy and acquisitions. Lanman divulged information about the failed deal while speaking at the LeWeb tech conference earlier today.
"Yeah, we tried to acquire Facebook," Lanman said during an onstage interview, according to a report by TechCrunch. "Facebook had a lot of similarities to Microsoft back in the day."
Lanman added that when Facebook rejected Microsoft's offer, Microsoft instead invested $240 million for a small stake in the company.
Microsoft and Facebook continue to work together. In October they announced that they were teaming up to make search more social. As part of that partnership, Facebook's search, which is powered by Microsoft's Bing, is making it easier to find people on the social networking site.
Full story: Computerworld