Report: Facebook Secures $100 Million Loan to Add Servers

Authored by Mark Hefflinger on May 12, 2008 - 6:25am.

Palo Alto, Calif. - Online social network Facebook has secured a new $100 million venture lending deal with TriplePoint Capital, adding to the $360 million it has landed over the past seven months, BusinessWeek reports. Facebook chief financial officer Gideon Yu told BusinessWeek.com the funds "will be used entirely for servers."

Palo Alto, Calif.-based Facebook, which attracted 109.2 million users worldwide in March, previously exchanged 1.6% of the company to Microsoft last October for $240 million, and also received $120 million from Hong Kong billionaire Li Ka-shing.

The Facebook deal is TriplePoint's largest to date; the company has provided over $500 million in leases and loads to over 150 companies since 2005.