The warning shot has been fired directly at Google – Facebook is looking to turn its fortunes around by moving into the search and mobiles arenas.
Speaking at a tech industry conference earlier this week, Facebook’s CEO Mark Zuckerberg said he was disappointed that Facebook’s stock has lost almost 50% of its value since the May IPO, but they are looking at new areas to turn that around.
Zuckerberg is especially keen on the mobile space:
I think it’s easy for folks to underestimate how fundamentally good mobile is for us.
We already see mobile users are more likely to be daily active users.
We think we’re going to make more money on mobile than on the desktop.
Facebook has made a priority of following its 900 million-plus members onto smartphones and tablet computers, tailoring services and money-making ads for mobile devices. But what does the future hold for mobile at Facebook? Well, Zuckerberg didn’t elaborate except for saying:
It is really clear from the stats and my own personal intuition that a lot of energy in the ecosystem is going to mobile, not desktop (computers).
That is the future; we are going to be doing killer stuff there.
Not to be forgotten, search is also on Facebook’s radar:
Search is interesting. We do on order of a billion inquiries a day and we’re not trying.
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.
I think that there’s a big opportunity for us [in search], we just have to find it.
Zuckerberg hinted that Facebook was halfway through a cycle to “retool” and offer new advertising products. He also said he believed search could be a ripe area of growth for Facebook and was working to offer a competitive search product – I hope you’re listening, Google.
These comments from Zuckerberg gave confidence to investors and helped drive Facebook shares up more than 3% to above $20; however the stock is still well off its $38 debut price.
It remains to be unseen whether this is just talk to increase his share prices or if Zuckerberg actually believes Facebook will move into the mobile and search spaces. But it sure does make for exciting times in the tech world.