updated 11:53 pm EDT, Sat May 12, 2012
Facebook to push mobile, advertising, online apps
Mark Zuckerberg has spoken up in the midst of Facebook's ongoing IPO roadshow, giving investors a better idea of what they can expect to be key revenue drivers for the largest social network in the world after it goes public. Zuckerberg says Facebook will set its sights on improving its mobile application, tying other online apps into Facebook, and creating a "transformative" advertising experience.
Speaking at Palo Alto's Crowne Plaza, Zuckerberg attempted to allay investor concerns over Facebook's revenue streams. Advertising revenue and user base growth rates have both begun to slow as the social network has approached market saturation.
Zuckerberg assured investors, however, that Facebook's advertising would still drive revenues. Facebook's social ads, which pitch products to users that their friends have liked, are better suited to mobile screens, according to Zuckerberg. To cement the company's mobile standing, Zuckerberg claims that the company will be reaching out to app developers and making it easier to integrate their own services into Facebook.
The announcement of an impending Facebook IPO was met with sizable interest from the investor community. Facebook initially estimated its own value at up to $96 billion.