Real Estate Face Off: Microsoft and Google Eyeball FaceBook
Barely a year ago on October 9th, Google laid claim to their largest acquisition to date as they triumphantly announced the acquisition of YouTube for $1.65 billion in an all stock transaction. YouTube had been created merely 20 months earlier in February 2005 by three former PayPal employees and was little more than Adobe Flash technology used to display video content and movie clips. Yet it had made the July 2005 sale of buddy site MySpace to Rupert Murdoch’s News Corporation for $580 million look like chump change.
It�s September 2007 and the streets are full of a rumor talking about Microsoft (Nasdaq: MSFT) looking into taking a 5% equity stake in Facebook. That move could value the company at around $10 billion. Of course we can be certain that cash flush Google won�t let such overtures go by without inviting themselves to the dance.
Created about six months after MySpace, the competing social networking site founded by Mark Zuckerberg was initially restricted to students of Harvard College � completely opposite to the �free for all� structure of MySpace. Within two months it was expanded to all Ivy League schools with many universities added in the following year. Next came high schools and some large companies. As of July 2007, the website had the largest number of registered users among college-focused sites with over 34 million active members worldwide.
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