Chinese billionaire joins Microsoft in Facebook's $15B round
The WSJ reported this week that Ling Ka-shing, the chairman of Cheung Kong and Hutchison Whampoa and the richest man in Asia, has committed another $60M to Facebook’s current $500M round.
The round, which is still open, has now secured $300M in new capital for Facebook (the previous $240M came from Microsoft as part of a larger strategic deal). Apparently, hedge funds are still backing off from the deal because of unfavorable terms.
As Facebook grows internationally, China will become an increasingly important focus for the company.
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