Seth Mason – There have been several interesting developments since I wrote my original article praising Facebook’s upcoming IPO:

Nielsen reported that Facebook is catching up to Google (GOOG) in the race for monthly unique users. Facebook has cut Google’s lead from 25% to 10% in the last calendar year. At its current rate of growth, Facebook will surpass Google in monthly users in time for its IPO next year.

Business Insider reported that Spotify, Facebook’s most popular music streaming service, now has more than 2 million paid subscribers. This is a 100% increase in the number of paid subscribers since the beginning of the year.

Facebook is investing heavily in infrastructure. The company announced the construction of a 1 million square foot, 120 megawatt server farm in Sweden and an enormous satellite office in Seattle that will employ 200 people.

Facebook is streamlining its integration with Sony’s (SNE) Playstation Network and Microsoft’s (MSFT) Xbox Live so that social networking becomes an integral part of online video gaming. The phenomenally-popular Call of Duty: Modern Warfare 3 will be the first game to feature the integration.

In its 2011 Global Social Network Market Forecast, Strategy Analytics estimates that social media revenue should double in the next 5 years, reaching $12.6 billion in 2016. It is anticipated that the majority of this growth will come from Facebook.

For its IPO, Google offered 20 million shares at a price of $85 per share. If Facebook presents a similar offer, take it without hesitation.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

via Keeping Up To Date With Facebook’s Eventual IPO – Seeking Alpha.