Facebook Asks For More Money As It Borrows US$100mn

May 2008 | Corporate Financing News Alert

Social networking site Facebook, which has raised US$360mn in the last seven months, will borrow an additional US$100mn from TriplePoint Capital, a company that specializes in lending money to startups, according to BusinessWeek. The news follows Microsoft's purchase of a 1.6% stake in Facebook - at a cost of US$240mn - in October 2007 although this time round the Palo Alto, California-based company is using debt to raise money and will thus not have to sell equity to finance the deal. The money from TriplePoint also has a degree of flexibility not offered by a traditional loan, as Facebook can

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