Facebook, the plain vanilla version of MySpace that recently rejected a $1.4 billion offer from Yahoo, convinced another schmuck that it's worth $2 billion. Ad and marketing company Interpublic (owner of PR firms DeVries and Weber Shandwick, Donny Deustch's Deustch Advertising, and scads of other firms) just agreed to sink $10 million into Facebook at a $2 billion valuation.

Naturally, valuation numbers don't mean much until it's time to IPO or flip (both pipe dreams for Facebook now). But Interpublic should easily earn its new .5% stake in Facebook with a few smart advertising partnerships. So far, the site's scant ads are nowhere near earning it a profit.

IPG to Partner With Facebook [MediaWeek]
Earlier: Rumormonger: Facebook turned down Yahoo's $1.4 billion [Valleywag]

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