When Facebook engaged in its IPO, there was much uncertainty about its proper valuation, as is typical for stocks whose valuations are based on expectations of aggressive earnings growth.

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During Facebook's IPO, there was significant uncertainty regarding its valuation due to its business model being heavily reliant on future earnings growth and the monetization of its large user base, which is common for tech companies entering the public market.

When Facebook Engaged in Its IPO, There Was Much Uncertainty