Is Facebook the next Microsoft or Google? Goldman Sachs (NYSE: GS) is certainly making a huge bet on the social networking firm. The premiere bank will invest $450 million along side a Russian investment firm that will invest $50 million, reports the New York Times. These fundraising efforts give Facebook a valuation of $50 billion, a massive private company.

Goldman has also committed to raising an additional $1.5 billion for Faceboook, some of which will come from its retail customers. The bank is also planning a novel SPV that would pool investments from clients and invest in Facebook as a single entity, which might be a way around an SEC rule that requires more extensive disclosure for firms with more than 500 investors.

An IPO is inevitable, perhaps next year at some point. Recall that the SEC essentially forced Microsoft to go public back in the 1970s. Facebook may be in a similar situation, and Goldman may be in the driver's seat when it comes to underwriting what would be a massive deal. Recall the heavy competition to lead the Google IPO, which was eventually won by Morgan Stanley. It would hard to envision anyone other than Goldman Sachs in the lead spot, though there will be many secondary underwriters.

As for founder Mark Zuckerberg, he's already a billionaire on par with the Google founders and perhaps even more of a cultural icon. The movie The Social Network paints an unflattering picture of him in many ways, but it has cemented his status in society. The movie just might win an Oscar.

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