Rapidly rising Internet star Facebook Inc. has sold a 1.6 percent stake to Microsoft Corp. for $240 million, spurning a competing offer from online search leader Google Inc.

The deal announced Wednesday after several weeks of negotiation values Palo Alto-based Facebook at $15 billion

These deals keep having more and more insane valuations. I think Decius and I should start practice claiming that MemeStreams is worth four billion while keeping a straight face..

Microsoft buys Facebook stake for $240M - Yahoo! News