October 25, 2007 7:24 AM PDT

Report: Even more cash for Facebook?

by Caroline McCarthy
  • Font size
  • Print
  • Post a comment

Looks like the "$240 million poke"--also known as the high-profile stake in Facebook that Microsoft acquired on Wednesday--may not have been the only deal-making. Forbes' Elizabeth Corcoran posted a quick blog entry saying that she'd heard two New York-based hedge funds had each handed over about $250 million to the cash-fueled social network. The Silicon Alley Insider notes that this makes sense, as rumors had pointed to a $750 million goal for the financing round in the first place.

Facebook representatives declined to comment on the matter.

Additionally, Fake Steve Jobs (who is really a Forbes reporter himself) also reported that the "hedgetards" are in on the deal, which would be unremarkable were it not for his coining of the hilarious term "hedgetard" (you know, in the same vein as "frigtard" or "freetard").

Originally posted at The Social
Caroline McCarthy, a CNET News staff writer, is a downtown Manhattanite happily addicted to social-media tools and restaurant blogs. Her pre-CNET resume includes interning at an IT security firm and brewing cappuccinos. E-mail Caroline.
advertisement

About Webware

Say No to boxed software! The future of applications is online delivery and access. Software is passé. Webware is the new way to get things done.

Add this feed to your online news reader

Webware topics

15 sites that went kaput in 2009

Web sites launch all the time, but they also shut their doors. We highlight 15 that bit the dust this year.

Top 10 news stories of the decade

Let the debate begin: Was the iPhone more important than iTunes? Was anything bigger than Google finding a great business model? CNET offers its list of the 10 most important stories of the '00s.

Inside CNET News

Scroll Left Scroll Right