Mark Zuckerberg On Stock Price, Search, Instagram, and Phone
At the TechCrunch Disrupt conference earlier this week Facebook CEO and co-founder Mark Zuckerberg took the stage to talk about the company. This includes the stock price, search, Instagram, and the rumor of a Facebook phone.
“We’re basically doing 1 billion queries a day and we’re not even trying,” said Zuckerberg at the conference. “Facebook is pretty uniquely positioned to answer the questions people have. At some point we’ll do it. We have a team working on it.”
A lot of people turn to Facebook to get their questions answered like where to eat sushi. “Search engines are really evolving to give you a set of answers, ‘I have a specific question, answer this question for me.’”
When talking to Michael Arrington, Mark Zuckerberg said that Instagram just passed 100 million users. “They’re killing it.” Zuckerberg said that he wants to help the app grow, but doesn’t want to meddle with it at the same time.
“Our mission around Instagram is we think Instagram is amazing, and we want to help it grow to hundreds of millions of users,” said Zuckerberg. “We want to help them out with whatever we can. We have no agenda in terms of making them go into our infrastructure. We’re just going to do the things that we would have done if they were an Open Graph partner, but now we can prioritize them more highly. They can do a lot directly, because they have access to our code directly.”
On Stock Price
Zuckerberg said that the stock price dropping has been “disappointing.” He also believes that their mobile strategy is “misunderstood” and it is not what will fuel the company’s growth. “The performance of the stock has obviously been disappointing,” said Zuckerberg. “We care about our shareholders.”
Some of the stock price drop has been due to their mobile strategy though. Zuckerberg said that over the next 3-5 years, the company is planning to create new ways to make more money from mobile users.
“Mobile is a lot closer to TV than it is to desktop,” said Zuckerberg when talking about the ability to make money. There isn’t a lot of room on the side for ads so they need to be more integrated and immersive.
“We know we are going to do well on that,” said Zuckerberg. “We’ve had a bunch of missteps.” One of the biggest mistakes they made was betting too much on HTML5 as opposed to native.
Facebook is now focused on making the Android app native.
When asked about whether we will see a Facebook phone, Zuckerberg said ”It doesn’t move the needle for us.” He adde ”The phone just doesn’t make any sense.” For example if Facebook built a phone, they would pick up only around 10 million users from it.
“The strategy that’s different for every other tech company, which is building their own hardware, we’re going in the opposite direction,” said Zuckerberg. “We want to build a system which is as deeply as possible integrated into every major device people want to use.”
Facebook currently has around 950 million users.