Facebook Makes Another $60 Million
It might have been more reassuring if this had happened sooner, or if more than one person were behind the investment. But as it stands now, Facebook certainly isn’t complaining – Li Ka-shing, a Hong Kong businessman, has endowed the social network with a fresh $60 million.
It was over a month ago that Microsoft tossed $240 million in the pot, and since then, the silence has been a bit embarrassing. Ka-shing’s investment could kickstart some further interest, though, and at the least, it’ll prove that more than one entity in the world believes Facebook’s worth $15 billion.
Indeed, even on top of the current development, Ka-shing “also has the right to invest another $60 million in Facebook,” reports Kara Swisher. She then notes, “Ka-shing has plenty of cash to do that-he is considered the richest man in Asia and was named the ninth richest person in the world by Forbes last March with wealth valued at $23 billion.”
So on the one hand, it’s not like Ka-shing is betting his family’s survival on Facebook’s success. On the other, he probably didn’t get so wealthy by making stupid decisions.
Meanwhile, Facebook has announced changes to its Beacon technology that may both please privacy advocates and interfere with its money-making abilities.