Yes, I think Facebook is an excellent form of advertising for some businesses. Facebook unlike any other website has the ability to attract users to the site and then have them linger, and stay on the site for a while. Whether it be looking at pictures, updating statuses, or just creeping around on old friends, Facebook grabs you and doesn't let go.
This can be a huge advantage for advertisers, they are able to see what your likes are and cater to them. With the wide range of people on Facebook it's easy to see why companies are trying so hard to advertise on Facebook. You can reach local markets, regional markets, and even global markets through this one of a kind website.
I believe once Facebook goes public there will be even more demand for advertising space. Facebook expects to gain close to 5 billion once they go public. I believe they will use this money to expand and perfect the social network that is Facebook. With this comes more users/consumers.
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