WSJ.com - Web-Networking Service Facebook Exploring Partnerships, Buyout

"Facebook Inc., a social-networking service that is popular with college students, has recently talked with some large media and Internet companies about possible partnerships or being acquired by them, people familiar with the matter say.
But the small Internet company and potential acquirers don't seem to agree about its valuation.
Kevin Efrusy, a Facebook investor with venture-capital firm Accel Partners, which put about $12.7 million in the Palo Alto, Calif., Web start-up last year, thinks the company could eventually be valued in the billions of dollars.
'Does [Facebook] have the potential to be worth more than $2 billion, based on economic fundamentals and the value of its audience? Absolutely,' says Mr. Efrusy, who led Accel's investment in the company.
But potential suitors for Facebook don't seem that impressed. After Business Week's Web site last week reported that Facebook hoped to snare as much as $2 billion through a sale of the company, a top News Corp. executive, Ross Levinsohn, told an analyst conference in New York that 'certainly we're not paying $2 billion for Facebook. That makes no sense for us.'"