Li Ka-shing Foundation Invests In Facebook
December 4, 2007 – 6:11 amFacebook has received another major investment. The first was when Microsoft bought a big stake a few weeks ago. Now a foundation owned by Hong Kong billionaire Li Ka-shing has purchased a .6% stake for $60 million.
The source said the deal, which values Facebook on the same $15 billion terms as the stake Microsoft Corp took in the fast-growing social network site in October, involves an investment by the Li Ka Shing Foundation.
Li-backed companies such as Hutchison Whampoa Ltd and TOM Group were not involved, the source said.
The stake gives Li a 0.4 percent share of Facebook. Microsoft’s holdings represent another 1.6 percent.
The All Things Digital blog, owned by Wall Street Journal publisher Dow Jones & Co, reported the deal on Friday.
Companies are buying stakes in Facebook in order to position themselves with one of the social networking superstars.
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