Microsoft Lands Facebook

Microsoft failed to sign MySpace to an advertising deal, so the software giant went out and landed Facebook, the second-largest social networking site.

Late Tuesday evening, Microsoft announced that Facebook had agreed to allow the software company to provide search and advertising listings to Facebook's 9 million users. The Wall Street Journal reported that the arrangement was for three years.

There are indications that the deal was an attempt by Microsoft to quickly rebound after watching Google walk away with the exclusive rights to provide advertising to MySpace's 100 million registered users earlier this month. Microsoft said in a statement that talks between it and Facebook started only last week.

Dude! That's moving fast on a deal! They must have had executive sign-off on the terms a long time before they actually sat down to deal.