Microsoft has paid $240m (£117m) for a 1.6% stake in Facebook that values the site at $15bn (£7.3bn). Facebook spurned an offer from Google which was also keen to invest the site.
A few years ago I wrote to Microsoft’s leadership and asked them why they weren’t involved in the new Web 2.0 space. I got an answer back that was about 2,000 words long and included the words “business value” 13 times.