Facebook: Another $500 million in the coffers?

Facebook has reportedly raised another $500 million to go with the $240 million infusion from Microsoft.

Not bad for a day's work.

The details are scant thus far. Here's what Forbes' Elizabeth Corcoran reported (peanut gallery commentary courtesy of Techmeme):

Two hedge funds from New York have apparently jumped into the Facebook deal.We've got our ear to the ground to figure out who it is but each put in about $250 million--for $500 million total--at the same valuation as Microsoft Corp. Facebook's Mark Zuckerberg should be feeling pretty flush tonight.

On last night's conference call, Owen Van Natta, vice president of operations and chief revenue officer at Facebook, didn't dispel the notion that more funding was on the way. If the Forbes report is on target, Facebook have each party--Microsoft and the two hedge funds--a stake of about 1.6 percent.

With $750 million or so in new funding, Facebook can pretty much do whatever it wants. Go public. Stay private. Acquire. Or just build out more.