Not content with the valuation-boosting $240 million investment by Microsoft, social networking hit Facebook seems to be looking for more money. Facebook is reportedly in discussions with hedge funds and private-equity investors to raise additional funding.

Seriously, though, what are they going to do with all that cash? Facebook is still growing at an amazing clip, but they have to be careful not to overspend — with all the investor money flowing in, it feels like the pre-bust dotcom times again.

Filed under: Internet

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