Inside Facebook

Marketing conglomerate Interpublic Group is close to closing a US $10 million investment in Facebook that values the company at approximately US $2 billion.

(Update: the $10M commitment is officially ad spend and not explicitly in exchange for shares)

According to MarketingVox,

The deal would give IPG not only display ad opportunities but also access to Facebook user data… The IPG deal could also help Facebook develop an ad model beyond its current heavy reliance on third-party ad networks.

Couple thoughts:

1. This is a great valuation for Facebook. Makes David Sze and Mark Lockareff look good.

2. This reflects a vote of confidence from Madison Avenue in the strategic importance of social networks (though some also see it as an act of desperation by Facebook).

3. IPG companies will develop custom products to stretch online brand experiences into new territory.