September 12, 2012
Zuckerberg, who spoke Tuesday, Sept. 11, 2012 at a technology conference in San Francisco, described Facebook’s stock performance – it has dropped to nearly half its $38-a-share offering price since going public in May – as a “disappointment.” He was, however, upbeat about its budding mobile business.
One of the chief reasons for investor uncertainty is concern regarding Facebook’s capacity to monetize its mobile audience of more than 500 million, Media Post News reports.
Facebook started running mobile ads in March, but Zuckerberg stressed the potential mobile has to turn a handsome profit.
“Over the next three to five years, I think the biggest question on everyone’s mind, that will determine our performance over that period, is really how well we do with mobile,” he is quoted by Media Post News.
Chucking HTML5 to instead build native apps for iOS and Android devices was a crucial step for Facebook , he said. Zuckerberg said the company’s gamble on HTML5 was its largest mistake to date.
Facebook’s freshly updated iOS app has been well received, Zuckerberg said, adding a new Android app is on the horizon, although he gave no specifics.