Just hours after Mark Zuckerberg appeared at a tech conference to “lament” how the stock price of Facebook had halved, shares in the social network rose by 4.6 per cent, before settling at just over $20. The firm’s founder was appearing at TechCrunch Disrupt – the first time he has commented publicly on the stock’s disappointing performance.
Zuckerberg also nixed the idea of a Facebook phone, and claimed that the site’s mobile ad platform was closer in its philosophy to TV advertising than other mobile ad systems, with the spots integrated into the feed rather than served on the side.
Facebook’s biggest mistake, according to Zuckerberg, was its reliance on HTML5 but, since the release of its native iOS app, consumption of its feeds had doubled. A native Android app was also in the pipeline.
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