I remember reading they have an AdSense competitor in the works, but that initial tests showed it wasn't a good enough competitor yet to be released.

I don't know if it would be $10B though, even AdSense isn't quite there for Google yet. Assuming they could lure a big chunk of AdSense publishers away, I suppose it could be several billion though.

Maybe they'll release it just before IPO to show their true promise. Name predictions... FB AdConnect?