So reports Kara, citing sources: Facebook is raising its second institutional round, as an expected-to-be high valuation…the money raised will probably be higher than the $25 million it did in 2006. One of the investors could be Microsoft, the story speculates, based on the prior relationship the two companies have, and the fact that MSFT tried to buy the company in the past as well. Previous investors in the company include Accel Partners, Greylock Partners, and Meritech Capital Partners. The money could be used to do some tuck-in acquisitions, possibly internationally.

• Facebook Gets $25 Million Funding