Have you heard of Facebook?  Your college kids have.  It’s the MySpace competitor that started out as a social networking site for college students.  Last year, Facebook opened up to include anyone and everyone and has since grown to 47 Million users (compared to MySpace’s 110 Million users). 

Rumors swirled this week that both Microsoft and Google were in talks to fund a hefty investment in Facebook that would include a minority stake in the site.  Looks like Microsoft won this round, with an investment of $240 Million. 

Facebook is rumored to be worth nearly 15 Billion–not bad for a company that is barely four years old.  This is a significant step in the life of Facebook (as well as in the war for web dominance between Microsoft and Google).