Yahoo Buying Facebook for $1 Billion
Still think Yahoo is having money problems? According to an article published by the BBC, Yahoo is incredibly close to sealing a one billion dollar deal with Facebook, the social networking site.
A Facebook acquisition would add yet another strong community offering to the Yahoo Social Media family, which now includes Yahoo Answers, Flickr, Yahoo Photos, and del.icio.us.
Facebook was previously in talks with Microsoft and Viacom, but no deal was made with either company. Unlike MySpace, which was snatched up by Fox Interactive last year, until last week Facebook focused primarily on American college students.
The popular social networking destination is now inclusive with over 9 million registered users. If those users stick around post-Yahoo acquisition, this may become a smooth move for Yahoo as they would essentially have another well branded destination for Yahoo Search Advertising and acquiring a proven and busy social networking site may be a lot more easier and efficient than building one (think Yahoo 360).
Facebook currently serves banner advertising provided by the Microsoft adCenter network and also utilizes the Looksmart AdCenter enterprise technology for serving their own ads.
We are waiting for confirmation from Yahoo on the report of this acquisition.