The complementary assets tend to be generic, between the server farms, marketing and advertiser relationships.

FORBES: Facebook Valuation: We Don't Know What We Don't Know

As I indicated in my previous piece, this is much lower than the costs of Groupon (80% range) and Google (67%), because the latter depend on specialized complementary assets and information, which requires significant investment in infrastructure and marketing.

FORBES: Facebook Valuation: We Don't Know What We Don't Know

Bernstein's best bet may be to find a strategic partner in a similar or complementary service -- an alliance that can contribute money, experience, sales and marketing expertise, even new clients.

FORBES: The next level