Facebook Inc.’s (NASDAQ: FB) founder and CEO, Mark Zuckerberg, appearing for first ever face to face conversation on Tuesday after the social network’s much hyped IPO in May, accepted that company’s previous mobile strategies were wide of the mark.
Nevertheless, Zuckerberg dismissed the notion that Facebook should offer its own smartphones.
According to the CEO, the company paid too much focus on technology known as HTML5. Although this technology allows applications to work in several kinds of hardware, it didn’t make look Facebook’s application as sophisticated as those designed for explicitly for devices like Apple Inc.’s (NASDAQ: AAPL) iPhone.
Zuckerberg acknowledged the fact that until six months ago company’s mobile strategy was in “pretty bad place”; but, now having realized past mistakes the company has sidelined itself from HTML5 technology and switched over to “native mobile applications” that have resulted in users interacting more through the social network.
Zuckerberg also said that this is only the start and there is lot more to be done on its smartphone offerings, especially finding out how to effectively integrate advertising into experience. However, he said that in the long-term FB will be able generate more revenue per user on mobile phone compared to money generated through per PC user.
Although Zuckerberg stressed in the past that he was not worried about Facebook’s stock price, he agreed that persistent slide in the FB stock impacted employees’ morale.
“The performance of the stock has obviously been disappointing…It doesn't help as an incentive for employees,” said Zuckerberg.
Meanwhile, Zuckerberg also hinted that FB was in lookout for search technologies which at present is dominated by its rival Google Inc. (NASDAQ: GOOG). Facebook currently receives about one billion search queries every day, mostly related to people searching for their friends.
“Search engines are evolving to give you a set of answers. Facebook is pretty uniquely positioned to answer a lot of questions that people have. What sushi restaurants have my friends been to in the past six months, and liked”, Zuckerberg.
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