Facebook Raises Another $500 Milion

Forbes’ Elizabeth Corcoran, reporting from the magazine’s MEET Conference in L.A., says Facebook raised another $500 million yesterday in addition to Microsoft’s $240 million. The money is supposed to have come from two NYC-based hedge funds, who would have bought stakes roughly equal to the 1.6% Microsoft purchased.

This makes perfect sense. rumours from the Facebook funding frenzy had the company seeking $750 million from the get-go. And during yesterday’s almost content-free conference call, Facebook’s Owen Van Natta refused to rule out the notion that the company had raised more capital than MSFT’s.

Because Forbes’ Fake Steve Jobs/Real Dan Lyons also reported the same item on his blog last night, there’s been a bit of (understandable) confusion about the news. But we can assure you that Betsy Corcoran is both real and well-sourced.

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