Ni Hao, Facebook? Have Another $60 Million!
Microsoft signed a check to Facebook with a pen that was heard around the world.Â The amount Microsoft gave to Facebook was an astounding $240 million for a mere 1.6% equity in the company.Â
Li Ka-shing, a billionaire in Hong Kong decided that he wanted to ride the wave of Facebook’s success as well.Â This is why Ka-shing invested $60 million (roughly 467,415,544.52 Hong Kong Dollars) in Facebook according to Kara Swisher.Â Facebook now has nearly $340 million in capital.
Li Ka-shing is the chairman of Cheung Kong Holdings and Hutchison Whampoa Limited.Â The investment in Facebook was not made directly through company money, but from a different entity.Â
Ka-shing is worth $23 billion and is considered the richest man in Asia (9th in the world).Â “The deal with Ka-shing came through a Facebook investor, who introduced the company to Solina Chau, director of the Li Ka-shing Foundation [Kara Swisher].”Â
In related news, the media was recently speculating whether or not Facebook was attemping to buy out Zhanzuo, a Chinese social network.Â But then the rumor was later denied.Â
Friendster and MySpace both have Chinese versions of their social networks.Â This investment may give Facebook an incentive to expand their operations for the world’s largest and most populous country.
An official announcement has not been made yet.Â Keep checking Pulse 2.0 for when the investment is confirmed.Â This specific blog post will be updated.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry