Zuckerberg to Investors: Facebook Mobile is Priority
It was recently reported that 54% of Facebook users access the social network via mobile devices, and the issue of how Mark Zuckerberg and Co.’s ad business is affected by mobile use was mentioned in its latest filing with the SEC, as the social network readies its IPO. Now Zuckerberg has pointed out to investors that the retooling of Facebook’s mobile ad platform is the number one priority of 2012.
Zuckerberg has taken his dog and pony show on the road as of late, proportionately scaring and encouraging investors, while at times donning a hoodie, and then speaking of ways to better monetize ads for mobile. At an event over the weekend at Palo Alto’s Crowne Plaza, Zuckerberg, along with COO Sheryl Sandberg and finance chief David Ebersman, mentioned that a key goal is to create a “transformative” advertising experience, and that Facebook is “just getting started” with its mobile application.
Zuckerberg added, “Over the next 10 years or so, every consumer category should be transformed to be built around people – People will listen to music and watch TV with other people (through Facebook) – We only recently reached this tipping point.”
Facebook is going for a $77 billion to $96 billion valuation, and shares will likely cost $28 to $35 a pop. And, regardless of hoodies, a vague future (it would appear that all websites eventually run out of steam) and a terrifying lack of mobile optimization, Facebook shares are already looking like they will be in short supply.