By most accounts, Facebook’s IPO should raise $10 billion. What will FBOK do with its part of all that cash? The same thing Google (GOOG) has been doing. Buying up other companies to build up its ecosystem to ensure its longevity as well as assure investors that it is not a one trick pony. Google, several years ago, acquired several companies such as YouTube and DoubleClick and about a hundred more companies. What’s more interesting is that FBOK will force Google, Amazon (AMZN), Apple (AAPL), Microsoft (MSFT) and maybe even Yahoo! (YHOO) to step up their game. And that will mean nothing more than them acquiring other Internet companies.

Here are a few targets for Facebook and for the above named companies for that matter:

• Renren (RENN): The Chinese social networking site makes for an attractive acquisition as it would give FBOK an entry into the fast growing and lucrative China market. The shares are down 80% from its 52-week high and has a market cap of just $2 billion.
• Ancestry.com (ACOM): Ancestry is a content based social network but it hasn’t been viewed as such. It has a loyal user base that spends upwards of $300 per year for the service. The benefits are a global presence, an attractive niche, significant barriers to entry, and the subscription model provides for revenue visibility. The market cap is only $1.3 billion.
• AOL (AOL): The company is in a turnaround phase and itself is being challenged by FBOK for share of display advertising dollars. AOL has rich self-produced content that can be leveraged across FBOK. The market cap is only $1.6 billion.