A Fool and His Money

Facebook has taken out a loan of approximately £51m.The loan is part of a plan to expand the core infrastucture.

March 2008 saw a 240% increase in traffic on the previous year and because of this. the money which has been borrowed from Triplepoint Capital will be used to buy new servers to support the increasing number of users.

This investment is an addition to the money collected over the last few months. Microsoft paid £122.5m for a 1.6% stabe in the company. I feel happy wih the thought that for once Microsoft has been ripped off themselves instead of us. £61.3m was invested by Hong Kong billionaire, Li Ka-shing. Even the name sounds rich ( ka ching!)

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