Matthew Borghese – AHN News Contributor

NY, NY, United States (AHN) – Facebook spent $8.5 million to acquire the domain name fb.com, according to newly released information.

The social networking site paid just $200,000 to acquire facebook.com in 2005, but needed a new platform to serve as a base for its messaging system.

Facebook bought the domain from the American Farm Bureau Federation, which itself has a Facebook fan page and partly relies on the social networking site for public outreach.

Article © AHN – All Rights Reserved

View full post on Economy, Business And Finance Stories