Facebook and Yahoo
Yahoo courts Facebook to the tune of $1 billion
Popular social networking site Facebook is in talks with Yahoo for an acquisition deal nearing $1 billion according to the Wall Street Journal. [...] Mark Zuckerburg, creator of Facebook, is keeping quiet about about any possible sale, however sources say that Facebook has been courted by numerous companies over the last year, not just Yahoo. Both Viacom and Microsoft are also rumored to have been in talks with Facebook, but were eventually shot down over valuation disagreements. They reportedly insisted on $2 billion, which was too rich for Microsoft and they walked away. Yahoo is said to have kept pushing acquisition talks despite getting rejected several times. [...] [Zuckerburg] sees a lot of potential in Facebook, which has been striking advertising deals left and right lately. Aside from a $200 million advertising deal with Microsoft over the next three years, Facebook has also hosted a 250 million song iTunes promo for Apple and Facebook is reportedly approaching $100 million in annual revenues from advertising. [...] Yahoo has already offered Facebook $800 million, which Facebook rejected.