Investors that are currently trading Facebook stock on secondary markets are pushing the company valuation to a consistent $100 billion. This is good news for early shareholders, as they will reap quite the payday. However, for investors that are joining right now, it appears that they will have to wait quite a while to recoup their investments. Why? Facebook will likely go for a $75 to $100 billion valuation, meaning there is no gain at the IPO. Of course, this could all change in the time between now and the IPO.