Facebook Shakes the Money Tree

Earlier this week news broke about Microsoft’s $240 million investment in Facebook, valuing the social-networking up-and-comer at around $15 billion. (Yeah, that’s like 500 times Facebook’s projected earnings for 2007)

The deal also guarantees Microsoft an exclusive third-party advertising platform partnership with Facebook. (I’ll scratch your back if…)

But, back to the $15 billion. On the heels of that announcement comes today’s news: supposedly a pair of unnamed New York Based hedge funds have anteed up another $250 million each for a piece of the Facebook pie.

For a three year-old company, this type of financial win-fall has the social media universe all a tingle with excitement. Well except, maybe, the folks at MySpace.

So, with nearly three-quarters of a billion in new financing, what’s next for Facebook? An IPO? A sale? An acquisition? More growth?