Zuckerberg: We're a Mobile Company, But No Phone on the Way

Before you go, we thought you'd like these...
Before you go close icon

In his first public interview since the bungled Facebook (NAS: FB) IPO in May, Facebook founder and CEO Mark Zuckerberg admitted the stock's performance has been "disappointing," but emphasized the growing importance of mobile as a harbinger of better times ahead. The stock closed at $19.43 on Tuesday, roughly half of its original $38-per-share price tag.

Appearing in a T-shirt, jeans, and sneakers, Zuckerberg spent much of his interview -- streamed live via the technology blog TechCrunch -- fawning over the opportunities in mobile. When asked about the possibility of a Facebook phone, though, the 28-year-old billionaire said releasing a mobile device was "clearly the wrong strategy for us."

Still, Zuckerberg went so far as to call Facebook a "mobile company," saying "all the code that's being written is for mobile," and adding, with a hint of braggadocio, "You know the founder's letter -- the S-1? Yeah, I wrote that on my phone."


Asked about whether rival Google's (NAS: GOOG) Google+ "(ticked) him off a little bit," Zuckerberg equivocated, but did say that search was something Facebook was moving into. He mentioned Facebook does "a billion queries a day, and we're basically not even trying," though he admitted later in the interview he was being a bit facetious. "We have a team working on search," he conceded.

All in all, Zuckerberg seemed very excited about Facebook's ability to integrate with Apple's (NAS: AAPL) iOS and Google's Android platforms, also expressing confidence in the photo-sharing company Instagram, which was acquired in a transaction OK'd by the FTC in August. "They just crossed 100 million registered users," Zuckerberg said. "They're killing it."

The founder's appearance seems to have calmed investors somewhat -- the stock rose more than 3% after hours. When asked about the stock's plunge since May, Zuckerberg even encouraged those currently with the company to "stay and double down."

For a special breakdown by Motley Fool analysts of the key opportunities and risks for Facebook, grab our premium report on the social networking giant.

The article Zuckerberg: We're a Mobile Company, But No Phone on the Way originally appeared on Fool.com.

Fool contributorJohn Divineowns stock in Apple. You can follow him on Twitter@divinebizkidand on Motley Fool CAPS@TMFDivine.The Motley Fool owns shares of Apple and Facebook.Motley Fool newsletter serviceshave recommended buying shares of Apple, Google, and Facebook.Motley Fool newsletter serviceshave recommended creating a bull call spread position in Apple. The Motley Fool has adisclosure policy. We Fools may not all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. Try any of our Foolish newsletter servicesfree for 30 days.

Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners