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Archive for the ‘Facebook’ Category

Facebook To Settle With ConnectU

Posted by Yaser on April 8, 2008

Facebook is said to be finalizing a settlement with founders of ConnectU, according to sources quoted by the NY Times .

For those unfamiliar with the case , a lawsuit before the US Federal Court alleged that Facebook CEO and Founder Mark Zuckerberg stole the original code for Facebook. Cameron and Tyler Winklevoss, and Divya Narendra (ConnectU) accused Zuckerberg of stealing the source code, design, and business plan for Facebook in 2003 when he worked in the Harvard dorms as a programmer for their own tertiary education focused social-networking site, now known as ConnectU.

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Posted in 2.0, Facebook, Internet, Tech, Web Applications, Web Deals | Tagged: , , , , , , , , , , , , , , | Leave a Comment »

Facebook and Microsoft Expand Strategic Alliance

Posted by Yaser on October 25, 2007

Microsoft and Facebook Expand Business Connections Facebook News Release: Microsoft and Facebook Expand Their Alliance. Microsoft to take equity stake in Facebook; companies expand advertising deal to cover international markets.

This is really great news and it looks like Microsoft beat out Google in the negotiations to claim an ownership stake in Facebook!Facebook and Microsoft Corp. today announced that Microsoft will take a $240 million equity stake in Facebook’s next round of financing at a $15 billion valuation, and the companies will expand their existing advertising partnership. Under the expanded strategic alliance, Microsoft will be the exclusive third-party advertising platform partner for Facebook, and will begin to sell advertising for Facebook internationally in addition to the United States. Financial terms were not disclosed. Read the rest of this entry »

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