DHAKA: Mark Zuckerberg, the founder of Facebook, has said the social network is focused on mobile devices and should be seen as a smart bet despite a ‘disappointing’ stock market debut.
‘It is really clear from the stats and my own personal intuition that a lot of energy in the ecosystem is going to mobile, not desktop,’ Zuckerberg said on Tuesday during an on-stage interview at a TechCrunch Disrupt conference in San Francisco.
‘That is the future,’ he continued, reports Al Jazeera.
‘We are going to be doing killer stuff there.’
Zuckerberg was adamant that the company was being underestimated and was on track to make ‘more money on mobile than we make on desktop’.
His appearance at the conference marked his first public interview since the massive public offering on May 18 that was hotly anticipated but ended up being a financial flop.
Facebook shares have lost around half their value since the IPO at $38 a share.
‘The performance of the stock has obviously been disappointing,’ Zuckerberg acknowledged.
Facebook has made a priority of following its more than 900 million members onto smart phones and tablet computers, by tailoring services and money-making ads for mobile devices.
The company’s shares gained 3.30 per cent on Wall Street on Tuesday to close at $19.43.
Then in after-hours trading following Zuckerberg’s remarks, the stock gained 3.45 percent to $20.10.
Zuckerberg rejected criticism that the company was ill-prepared for a shift to mobile devices, where Facebook has only begun to earn ad revenues.
‘Now, we are a mobile company,’ he said.
BDST: 1411 HRS, SEP 12, 2012
Edited by Robab Rosan, Cultural Affairs Editor
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