Today, Microsoft bought 1.6 percent of the online networking site Facebook, which was created by a Harvard dude in his dorm room four years ago.
Bill Gates’ company paid $240 million to 23-year-old Mark Zuckerberg, which technically puts Facebook’s worth at about $15 billion. A year ago, Yahoo offered $1 billion for the site. Zuckerberg must be very happy he refused that offer.
If you wanted to know, that deal values each Facebook member at about $300, virtually speaking, of course.
But don’t party like it’s 1999, because he whole thing may be a bubble, just like in 1999.