Facebook: The WSJ reported this week that Ling Ka-shing, the chairman of Cheung Kong and Hutchison Whampoa and the richest man in Asia, has committed another $60M to Facebook’s current $500M round.
The round, which is still open, has now secured $300M in new capital for Facebook (the previous $240M came from Microsoft as part of a larger strategic deal). Apparently, hedge funds are still backing off from the deal because of unfavorable terms.
As Facebook grows internationally, China will become an increasingly important focus for the company. (Facebook is launching internationalized versions of the service soon.) Just a few weeks ago, there were rumors that Facebook would acquire Zhanzuo, the most popular social networking service for college students in China
Source: insidefacebook.com
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