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It's not $2 billion, but it'll do — Greylock Ventures, who just sank $25 million into Facebook, valued the social site at $525 million, according to MarketWatch's Bambi Francisco.

If Greylock thinks Facebook is now worth about $550 mil, but that it still needs seeding to grow, it's one more sign that the social bubble still has room to inflate. Of course, it also means Facebook has that much more to pay back, and needs to hold out for higher numbers — and risk tanking like Friendster.

Oh joy, all this excitement just before a fourth of the users graduate!

Facebook Gets $25M Funding [Red Herring]
Bambi Francisco []
Via: Facebook's latest valuation: "$525 million pre-money" [Lifelong Learning Blog]