LinkedIn, our favourite social networking site, recently sold its stock shares publicly and is doing quite well, with its stock at $85 in its first few minutes.

But now Wall Street is wondering, is this another dotcom bubble? Back in 2000, the prices for tech stocks were over inflated. Wall Street suggests that the IPO price was set too low, and that the private market didn't value the company correctly either.

On the other hand, some people feel that if LinkedIn does well, it would be a form of validation that there's money to be made in social networking, that it's a good time to start an internet company.

In the meantime Renren, the Chinese equivalent of Facebook, went public earlier this month, but its shares fell below the IPO price. The French networking site Vladeo, another LinkedIn equivalent, said it will put its plans to go public on hold for the time being.

Facebook, criticized for encroaching on LinkedIn's territory by adding job data to personal profiles, plans to go public in 2012.