Which will be news (possibly welcome news) to Facebook shareholders who have seen the value of their stock in the post-IPO company halve from $38 to around $19.
CEO Mark Zuckerberg, still worth billions, told a TechCrunch conference that his company had got it wrong in trying to develop its own mobile offering instead of piggy-backing on the back of successful Android and iPhone smartphone platforms, but that was now changing. Facebook has developed an iPhone app and is working on an Android version.
Zuckerberg also said that Facebook, which has over one billion users, was carrying out around a billion searches a day – “and we’re not even trying” – which suggests that search may become a business too as the company tries to turn its huge user base into revenue and profit.
Which is all very well but the elephant in the living room (regardless of how well Facebook’s forays into mobile go) is the self-same user base and its tolerance of a growing number of attempts to monetise it (them, of course).
There is already solid evidence that Facebook growth is stalling in developed markets like the US and western Europe. Growth in the Far East and elsewhere may keep the numbers moving up but brand owners will likely take the view that a slowdown in Facebook’s home market suggests looming problems further afield too.