July 24, 2008, 1:42 PM — Microsoft announced an Internet search and advertising deal with Facebook at the software giant's annual shareholder meeting Thursday.
The deal will extend an existing partnership between Microsoft and Facebook and will include running Microsoft Web results as well as paid search advertising on Facebook's site. "We're excited about using this as an opportunity to extend Live Search results," said Satya Nadella, senior vice president in Microsoft's search, portal and advertising platform group.
Microsoft owns a stake in Facebook and has an existing exclusive agreement with the site for banner advertisements.
The new search and ad feature that is part of the expanded deal will launch later this year, Nadella said.