With all the Facebook investment and valuation talk swirling about, I stated yesterday that if Facebook was going to do an IPO then that would be news. Well, that ‘announcement’ is not imminent according to Facebook CEO Mark Zuckerberg as he addressed the Reuters Global Technology Summit.

Zuckerberg’s comments really didn’t add any fuel to the fire or speculation about investment in the company. In fact, he made sure that it was clear that all of the talk right now is just that; talk. Reuters reports:

The 25-year-old co-founder of Facebook said he is always open to partnerships and investments, but stressed that Facebook can achieve its business goals with its current financial base — despite numerous media reports that it has had talks on a new round of funding with various investors.

The Interactive Advertising Bureau has released a new set of standards for social media ad buying. eConsultancy reports that the announcement was made at the IAB Social Media Conference in New York (makes sense). The standards are being introduced to at least create a baseline to consider when trying to determine how, when, why, where and for what reason to buy social media advertising.

Seems that everyone wants to get involved in social media and can talk a great game about how ‘valuable’ it is but the reality is that actually knowing what to measure and how to measure whatever it is is often a question that is unanswered. As a result there is trepidation by many with regard to getting involved in social media advertising. With the IAB getting in the game like they did in 1996 by creating general online advertising standards the hope is that more will feel comfortable making the move to social media opportunities.

Back in February, when Facebook joined the OpenID Foundation, we had to wonder if the move was a presage of things to come. And apparently it was. According to CNET, yesterday Facebook announced that they will become a relying party—a participating site—for OpenID.

If you’ve forgotten/never learned what OpenID is, it’s like a universal login for participating sites. While this is quite cool for Facebook, one has to wonder what’s up: in 2008, Facebook launched Facebook Connect, which has always seemed like a bit of an OpenID competitor.

Facebook Connect allowed FB members to use their FB profiles to comment and participate in different sites across the web. TechCrunch, for example, was one of the first to sign on in December. Now in the TC comments section, you can login to Facebook (or if you’re already logged in, just use your profile) to comment, tying your comment to your profile.

Some exciting news in the world of Twitter. According to Reuters, Twitter will be rolling out revenue-generating features by the year’s end. I know what you’re thinking: “Great, here come the ads.” Well you are wrong, my friend. Twitter believes they can stay ad-free by developing various add-on tools and services for the businesses and professional users of Twitter.

“There are a few reasons why we’re not pursuing advertising — one is it’s just not quite as interesting to us,” Twitter co-founder Biz Stone told the Reuters. “There are no people at Twitter who know anything about advertising or work in advertising. So we don’t have anyone there to make or take those calls.” How comforting.