Let the Facebook bidding war begin

From CNN Money:

Should we start calling Facebook, the popular social networking site, Microbook or Facesoft?

The Wall Street Journal reported on its Web site Monday afternoon that Microsoft is considering investing $300 million to $500 million for a 5 percent stake in Facebook. The high end of that range would value Facebook as a whole at $10 billion. A spokesperson for Facebook told CNN that it had no comment about the speculation and a representative from Microsoft said the software developer had no comment as well.

But the WSJ indicated that talks are just in preliminary stages and that Google, the search industry leader, is also interested in making an investment in Facebook, which has seen its popularity explode since the company developed an open platform for applications developers earlier this year. The site has gone from being one that was more of a niche social networking site popular on college campuses to a legitimate challenger to News Corp.’s MySpace.

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