Of the many disappointed investors that bought and sold Facebook shares since the social media sites IPO in May, Microsoft are one of the happy ones.
Having reportedly sold off around 20% of its shares in Facebook after it went public, Microsoft made approximately $10 million in profit, having originally put in an enormous $240 million and receiving $249 million back. The number of shares Microsoft sold is said to be around 6.6 million.
Microsoft originally in vested the $240 million with Facebook back in 2007 for a 1.6 stake in the then not so large website. As part of the deal Bing Search & Bing Maps were used in much of Facebook’s search results, including the Bing logo and ‘Search results by’ advertisement.
Whilst this is great news for Microsoft, it’s not so good for Facebook that has dropped roughly 50% in market value since its initial IPO in May.