Last Oct we wrote most how Facebook’s independent ontogeny compounded with a declining business mart was forcing the consort backwards to the crowning markets.

The consort has been every over the locate with on achievement comments most fundraising since that post.

In November Founder Mark Zuckerberg unwaveringly said “No” in salutation to the discourse “?Do you requirement money??

But in Dec Zuckerberg told me the consort was open to upbringing more capital, but exclusive at the preceding $15 1000000000 valuation:

We discussed Facebook fundraising issues and valuation. He said whatever of the reflection was genuine and whatever wasn?t. he addicted that Facebook?s $15 1000000000 appraisal ammo was ease unstoppered and that CFO Gideon Yu was unstoppered to newborn investors at that price. But he denied that Facebook was pitching for newborn money at a modify valuation. ?We?re not actively feat around disagreeable to improve money from a aggregation of assorted people. It?s more meet a study on to that [previous round].?

Fast nervy to terminal month, when Facebook commission member Peter Thiel told BusinessWeek the consort did not requirement to improve whatever more money and had decent change to move at its underway ontogeny rate. And then yesterday BusinessWeek reported that Facebook is hunting to improve newborn debt crowning to change a $100 million distinction of credit.

So Are They Raising Money Or Not?

Yes, they are.

eMarketer projects Facebook revenues of $230 meg in 2009. Our sources feature this is artefact low, and that Facebook module impact at small $300 meg in 2009 revenues. But the costs of streaming this ginormous consort are staggering. Facebook haw be executing though $20 meg or more per month, modify on crowning of revenues.

The difficulty with Facebook’s growth is that it’s every international, and those users meet aren’t as juicy to the consort (see our help from terminal summer).

Our sources verify us that Facebook belike has around $300 meg mitt in cash. If ontogeny were to withhold at this saucer they’d hit 15 months or so of runway. With their staggering ontogeny rate, it haw not terminal that long.

We’re chance they organisation on upbringing money sometime this assemblage to provide themselves sufficiency modify to intend to an IPO, or at the rattling small intend finished the scheme downturn. Our sources feature they’re pitching the consort at a $10 1000000000 valuation, but would be “thrilled” with a $5 1000000000 valuation.

Google Thinks Facebook Is designer $2 Billion.

We’ve also heard that there hit been rattling baritone verify conversations between Google and Facebook around an justness assets or unqualified acquisition. But these conversations never prefabricated it to the grownup execs at Facebook. Perhaps because Google’s interior moulding haw hit valued Facebook at meet $2 billion. There’s no artefact Facebook is feat to verify that appraisal without a fight.

So what module happen? Our surmisal is Facebook module verify as such debt as they crapper to provide themselves whatever breathed room. If income ontogeny is as flourishing as we’re chance it is the consort haw be healthy to reassert a higher appraisal when they needs do verify more justness funding. The bounteous discourse is, what just module Facebook’s incoming appraisal be?

Update: A newborn maker today tells us that Facebook’s interior income projections for 2009 are over $400 million, such of which is unvoluntary by the consciousness help ad system. We’re also effort commendation on Facebook’s $300 meg in underway cash.

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