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Facebook gets $60 million more investment

Li Ka-shing invests in social networking site

30 November 2007 8:49 GMT / By Amy-Mae Elliott

AllThingsD reports that Facebook has received another hefty dose of funding.

Hong Kong billionaire Li Ka-shing has made an investment of $60 million in Facebook, according to sources "with knowledge of the transaction".

This follows the recent news that Microsoft has also invested in the social networking site, apparently beating Google to the deal.

The $15 billion valuation of Facebook which determined the stake amount Microsoft paid raised eyebrows in the business world, but has not deterred Ka-shing who has the further option to invest another $60 million in Facebook.

Li Ka-shing is the chairman of Cheung Kong Holdings Limited and Hutchison Whampoa Limited, a conglomerate with 250,000 employees worldwide and is considered the richest man in Asia.

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