No doubt social networks are generating major revenues this year. After Google struck a deal with MySpace to be the sole search engine advertising provider for the site Microsoft has now aligned with Facebook to be the sole provider of banner advertising and sponsored links. “We chose Microsoft because it, like Facebook, is a technology company at its core and is committed to taking a fresh approach to targeting advertising to social media,” Owen Van Natta, Facebook’s chief operating officer, said in a prepared statement.

Facebook has over 9 million users and is the 7th highest ranked site in The United States. Although serious negotiations have only begun, the deal will likely bring Facebook’s creator Mark Zuckerberg well over $1-2 billion dollars I can only imagine.