Facebook rejects Microsoft's acquisition offer
Technology blog TechCrunch reported that during an interview Microsoft's senior director of corporate strategy and acquisitions, Fritz Lanman, admitted Microsoft's vain attempt to acquire Facebook.
Fritz Lanman told that Steve Ballmer, chief executive officer of Microsoft Corporation, offered $15 billion to Facebook, but Mark Zuckerberg rejected the offer because he didn't want to lose control.
"Ballmer took this reply as sort of challenge. He went back to Microsoft's headquarters and concocted a plan intended to acquire Facebook in stages over a period of years to enable Zuckerberg to keep calling the shots," said Fritz Lanman.
"But Zuckerberg rejected all the overtures. What Ballmer finally agreed to instead was an advertising deal that included a provision for Microsoft to pay a huge amount, $240 million, for a sliver of Facebook, 1.6 percent. Microsoft"s investment gave Facebook an implied value of $15 billion," he added.