Adage.com reports that Facebook will soon it $1.2 billion dollars in ad sales. A new estimate from eMarketer says the company will book $1.285 billion in global advertising alone this year, almost double the estimated $665 million the company took in last year. That figure doesn't include Facebook's so-called virtual currency trade, which would nonetheless account for a fraction of the company's overall business. Edmund Lee writes, even though many in the industry bandy about "social" as a wide-ranging category, Facebook is the only significant player in the space, and its clear supremacy has triggered more speculation over a potential IPO, once thought to be a possibility in 2010.

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