Report: Even more cash for Facebook?

A Forbes writer reportedly overheard that two New York-based hedge funds have infused the social network with something in the neighborhood of $250 million.

Looks like the " $240 million poke "--also known as the high-profile stake in Facebook that Microsoft acquired on Wednesday--may not have been the only deal-making. Forbes' Elizabeth Corcoran posted a quick blog entry saying that she'd heard two New York-based hedge funds had each handed over about $250 million to the cash-fueled social network. The Silicon Alley Insider notes that this makes sense, as rumors had pointed to a $750 million goal for the financing round in the first place.

Facebook representatives declined to comment on the matter.

Additionally, Fake Steve Jobs (who is really a Forbes reporter himself) also reported that the "hedgetards" are in on the deal, which would be unremarkable were it not for his coining of the hilarious term "hedgetard" (you know, in the same vein as "frigtard" or "freetard").

About the author

Caroline McCarthy, a CNET News staff writer, is a downtown Manhattanite happily addicted to social-media tools and restaurant blogs. Her pre-CNET resume includes interning at an IT security firm and brewing cappuccinos.


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