Microsoft is dropping $240 million into the coffers of Facebook. This move will install Microsoft as the exclusive 3rd party advertising partner on Facebook in both the US and internationally.
Microsoft beat out Google in a bidding war for the deal and the amount that Microsoft paid for the 1.6% stake in Facebook puts the value of the social-networking site at $15 billion. That's a lot of cash.
Facebook will be making a major advertising announcement on November 6th and we'll have the story for you then.