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The $100 billion market valuation presumes Facebook will be able to increase that by several orders of magnitude -- an exceedingly rare feat.

According to some, Facebook's IPO -- which could value the company as high as $100 billion -- could be the most popular tech-stock issue since Google went public in 2004. And with close to a billion active users, Facebook is already the world's largest social network, and it is already generating billions from advertising directed at those users. But the bottom line for investors and analysts is, Can Facebook grow enough to be worth the investment, or is the company nearing its peak?