Firstly, I've got to agree with all of the the comments made by Andrei 
Volgin... App Engine is an excellent environment for startups and, having 
made a similar decision to yourself a couple of years ago, I couldn't be 
happier with my choice.

However, a word of caution for your specific requirement. The social 
networks rate limit some of their APIs to IP address. Being in App Engine 
means you're sharing your infrastructure (and IP addresses) with millions 
of other projects. This makes it almost impossible to connect to some 
(particularly Twitter) APIs. This might not be a problem if you're OAuthing 
specific users but its definitely worth checking out.

To end on a positive note though... in the past 2 years, our startup 
business has benefited from having an infinitely scalable architecture 
coping with numerous unexpected traffic spikes (up to 40x on occasion), 
with 0% downtime ... all at a cost of <$350 a month.

When you look at App Engine alongside its new bed fellows of Cloud SQL, 
Cloud Storage and Big Query... Google's Cloud Platform is frankly looking 
like a top notch choice.

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