[vessenes]

Google was massively underpriced at the IPO, (as in $80/share or so if I recall) but this was mostly for insider reasons -- they IPO'ed using a sort of reverse auction method that cut out traditional I-Banking pre-sales. The bankers largely revolted in exchange; this led to at least one of the Google VCs pulling the shares from the offering altogether and holding them.

Smart VCs!

Anyway, that said, I'm a bull on Facebook. It's incredibly hard to stop using. And they're (purportedly) profitable, and growing, and have barely started monetizing their user base.