Facebook Gets Funding To Improve Infrastructure

Mon, 12 May 2008

Social networking website Facebook has taken out a $100m (£51m) loan as part of plans to expand its core infrastructure.

The company said the borrowed funds will be used to buy new servers for supporting the social network's growing user base.

Facebook has recorded considerable growth in visitor numbers over the last year, with more and more people from across the globe signing up to become part of the social network .

According data by traffic measurement site comScore, the social network received 109.2 million visitors in March - a rise of 240 per cent on the same period in 2007.

The new investment adds to the $240m (£122.5m) received by Microsoft for a 1.6 per cent stake in the company last October, and the $120m (£61.3m) investment from Hong Kong billionaire Li Ka-shing.

Microsoft came close to increasing its stake in the company last week following its failure in an attempt to buy Yahoo .
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