Sorry no equations and no other crap, but i felt i would chime in on this hotly debated valuation and overall buzz about the potential IPO. First id like to say this IPO is a long way away, and the SEC is going to look into it, and there is no way in hell pre IPO these valuation levels can sustain unless the numbers out of Facebook are indeed real, audited 1000 times and then future projections on revenue models are real. Anyway... here is the latest.

(Dealbook writes) "The company said that it would cross the 499 shareholder limit by the end of the year in the offering memorandum sent to Goldman clients who are being given an opportunity to buy Facebook shares.

The document also gave a snapshot of Facebook’s financial performance. The company, based in Palo Alto, Calif., earned $355 million on $1.2 billion in revenue during the first nine months of 2010.

On Sunday, The New York Times DealBook reported that Goldman Sachs had invested $450 million in Facebook in a deal that valued the company at $50 billion. The report said that the firm was also raising about $1.5 billion from its wealthy clients through a special-purpose vehicle that would invest alongside the firm in the company.

Goldman’s clients have flooded the firm with orders, making the deal heavily oversubscribed, people involved in the process said. In the middle of the fund-raising, the S.E.C. questioned Goldman."