Facebook is holding a special invite-only event on Jan. 15. What’s in store? We don’t know, but the company’s invite says “See what we are building.” There are millions and millions connected to the social network, so maybe an actual honest to goodness phone is on the way

The company has reached out from the confines of its Web presence by introducing a handful of mobile applications, so the company definitely has the gall to tackle such a venture. But how will it be decidedly Facebook, assuming a smartphone is on the way?

What else could be in the works? The more likely scenario is that something software related is coming—we haven’t seen any leaks up until this point. A revamped Timeline? A Music network? We’ll find out on Jan. 15.