HK tycoon doubles his Facebook stake
Web 2.0
31 March 2008
Hong Kong tycoon, Li Ka-Shing, has doubled his stake in social networking site Facebook, it has been reported.
Mr Ka-Shing has invested a further $60 million (£30 million), which brings his total share to 0.8 per cent of the company.
Speaking at a recent press conference, he hinted at a tie-up between the site and Hutchinson Whampoa, a mobile company that he also supports.
"Facebook is doing very well," he said. "And we could have some synergy between the 3G services of Hutchison and Facebook, so the customers could use Facebook on mobile phones."
The value of social networks is in doubt as advertisers have yet to define an exact business model.
However, AOL recently made clear its interest in their potential - it bought Facebook rival, Bebo, for $850 million (£427 million).
To make more money from your website
CALL US NOW ON 01483 740800.
