Facebook Dilema

Kaylah has recently expressed the desire to open her own facebook account. I am really struggling with this. I don't want to seem like a prude and wrap her in cotton wool, but then again I don't want to risk exposing her to material that she's not mature enough to cope with, if you know what I mean. I don't have a facebook account because I really don't like all the crap that is out there on the net. Apparently many of her friends at school have their own facebook accounts, and so after hearing them all talking about it during lunch breaks, she now wants to joing the 'fun'. What should I do? Does anyone out there have any suggestions for me? I have googled if facebook is safe for children, and I did come across a link to a news article about detectives who went undercover and signed up as young teenage girls, and they found they were swamped by registered sex offenders. I know facebook must try hard to make it a safe place, but seriously, they can only do so much. What would you do if you were me? Any suggestions would really be appreciated.

Thanks.