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Zuckerberg Offers $85 Million For Zhangzuo (UPDATED)

By: Going Like Sixty - Published: • References: news and business.timesonline
Social networking is expanding globally; Facebook is looking at extending into the Chinese market by trying to acquire Zhanzuo.com, the largest social network in China.

"Facebook already boasts more than 100,000 users of its English-language network in China and rumours of its local-language entry were fuelled with the company's recent registration in China of the domain facebook.cn," the Times reported.

Mark Zuckerberg founded Facebook while a student at Harvard, and has been looking for a way to tap into the seven million active users in China. He offered $85 million for Zhangzuo which has about seven million active users.

UPDATE: Facebook denies any deal.