Zuckerberg says IPO has been 'disappointing,' eyes search opportunity

11.09.2012
Facebook CEO Mark Zuckerberg gave his first interview Tuesday since the company's troubled initial public offering earlier this year. He said the performance of the stock has "obviously been disappointing" but said Facebook has big opportunities in both mobile and search.

Addressing one of the main criticisms of Facebook -- that it doesn't have a good strategy to make money from mobile users -- Zuckerberg said Facebook's prospects on mobile devices are one of the most "misunderstood" things about the company.

"I think it's easy for folks to underestimate how fundamentally good mobile is for us," Zuckerberg said in an on-stage interview at the TechCrunch Disrupt conference in San Francisco.

More people have phones than PCs, giving an advantage in terms of sheer numbers, he said. And people engage with the service more frequently on their phones than on PCs. "We already see mobile users are more likely to be daily active users," he said, with most mobile users checking the site six out of seven days a week.

"We think we're going to make more money on mobile than on the desktop," he said.

Still, when pressed about the company's mobile efforts, Zuckerberg admitted Facebook has made "missteps." For one thing, it decided two years ago to start developing for the Web first, using HTML 5, rather than focusing on native apps.