On Wednesday, Facebook.com announced that it had sold a 1.6% stake of its company to Microsoft for US$240 Million. Microsoft's purchase effectively gives Facebook the 5th highest market cap among US internet companies, just behind Amazon.com. Microsoft has announced that it will sell ads on Facebook and broaden its marketing relationship with the young site, as it continues to grow overseas. Facebook is the fastest growing social network, with 30.6 Million US visitors in September, to Myspace.com's 68.4 million. For more information visit the Associated Press.

source: www.associatedpress.com 

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