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HELL'S KITCHEN, MANHATTAN — Today Silicon Valley's favorite pair of Adidas sandals will finally take to Madison Avenue as Facebook CEO Mark Zuckerberg & Co. plan to debut SocialAds, an ad network which will run behavioral-targeted ads on and off Facebook.com.

At the event, to be held at Loft Eleven on West 37th Street, word is Zuck will give a speech around 2:30 p.m. and then a few panels will leach any remaining enthusiasm out of the room. Finally, there's to be a Q&A session for the press.

Expect big buyers to be in attendance. Rumor is Conde Nast, Nike, Apple, Sony, General Motors, Coke, CBS, Chase, and Verizon have already paid out $300,000 each to be "Landmark Partners" in today's announcement. Madison Avenue is desperate to figure out this whole social networking thing.

Dear readers, we have our sources at today's event (a certain Alleywag will be in attendance), but we could always use more. Going? Inform us of your plans and then tell us your take while you're there.