September 22, 2006 | Friday

Yahoo to buy Facebook Social Network?

By Admin in News |Search Engines |Yahoo

Social-networking site Facebook is in serious sale talks with Yahoo! for an amount that could approach five hundred million pounds, The Wall Street Journal reported yesterday.

Facebook had previously implied that it is looking for potential partners for such a deal and has already struck an advertising deal with MSN. You may remember we commented on this on Wednesday August 23, 2006 - “MSN in Social Network Deal”.

Summary
Facebook attracts around 10 million users per month which is roughly a tenth the size of Myspace.

Owen Van Natta, chief operating officer at Facebook, said at the time: “We’ve had a number of conversations with folks about a number of different partnerships.”

Read the detail behind this deal - here

Its founder Mark Zuckerberg, owns roughly thirty percent of Facebook so any deal with Yahoo! will place him among America’s wealthy elite.

Facebook was set up two-and-a-half years ago by Mark while he was studying psychology and computer science at Harvard. Currently Facebook attracts around 10 million users per month which is roughly a tenth the size of Myspace.