San Francisco: Mark Zuckerberg, CEO of Facebook, has said on Tuesday that Facebook will survive troubles as it did before, referring to company’s stock performance after its initial public offering in May earlier this year.
Zuckerberg was speaking at the San Francisco Disrupt conference organised by technology blog TechCrunch. It was his first interview since the IPO.
He said the drop “has obviously been disappointing,” but he said it’s a great time to “double down” on the company’s future.
“Facebook has not been an uncontroversial company. It’s not like this is the first up and down we have ever had.”
After he began speaking, Facebook’s stock increased 74 cents, 3.8 percent, $20.17 after-hours trading. That’s on top of a 3.3 percent gain during the regular session, The Associated Press reported.
Investors had been concerned about Facebook’s ability to keep growing revenue, especially as more people use it from mobile devices, where this is less room to how ads.
Zuckerberg said it was “really easy for folks to underestimate how really fundamentally good mobile is for us.”
He said the site wants to make money and will make its way through mobile advertising.
“We have a pretty good compass. I always like to think that when folks are being too nice, we aren’t as good as they say they are. And when the media is being too critical, we are not as bad as they say we are.”
Facebook’s IPO was priced at $38, but the stock had fallen sharply in the weeks afterwards.
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