While tech savvy public investors await the much anticipated news of a possible Facebook initial public offering (IPO) their enthusiasm was possibly suppressed when New York Times announced on Monday Goldman Sachs has joined forces with the growing social networking giant, Facebook.

It has been reported Goldman Sachs and Russia’s Digital Sky Technologies – or DST as they are commonly known as in Russia – have invested a combined $500 million into the social networking giant.

This latest cash injection allows the company’s 26 year old Chief Executive Officer, Mark Zuckerberg, the opportunity and freedom to compete with other Internet companies who are all competing for the same advertising dollars.

Being able to delay public offerings on Wall Street, it has allowed Facebook to currently remain free from Government regulation and the volatility other companies are currently facing on Wall Street at the moment.

Speculators believe this latest venture with Sachs and DST could result in an IPO before the end of 2011. CNBC reported there’s usually an informal agreement when firms like Goldman Sachs invest in companies before they go public. Sachs could be placed in the best position to be a lead underwriter if Facebook decides to open the doors to public investors.

It is estimated the market value of Facebook is approximately $50 billion dollars with Zuckerberg retaining near absolute control over the company he co-founded in 2004 in a Harvard dormitory room.