Sounds like a couple of bits were moved, did you get an error when the package was downloaded? Did you download the steam package with the software center or with apt-get?
If you have a 64-bit install, you also have to install the 32-bit graphics libs for steam to work, because steam is 32-bit only. Make sure, before you try to install steam, that you have the 32-bit libs for your system in place.
After that, use apt-get to pull in steam from the official repos instead of the software center, and watch out for hash check errors or key errors.
On the other hand, I did try to install steam on ubuntu once (I don't use Ubuntu anymore), and that was not exactly a smooth experience, but everyone seems to have a different problem with steam or steam games in ubuntu.
I'm sure a forum member that uses Ubuntu will chime in and suggest some magical solution...