He came. He saw. He'll have to wait until the stock market opens Wednesday to know whether he conquered.
In his first public comments about Facebook stock since the company's ill-fated May 18 initial public offering, CEO Mark Zuckerberg addressed the month's long slump in the company's stock price.
"The performance of the stock has obviously been disappointing," Zuckerberg said during an appearance Tuesday afternoon at the TechCrunch Disrupt conference in San Francisco. "The commitment we've made is tomake the world more open and connected ...for the long term. The next 3 to 5 years is really going to be how well we do with mobile." Although the offering was wildly successful for Facebook, which raised $10 billion from its IPO, the stock has lost more than half its value since the shares went public at $38 per share.
In a Clintonian "I feel your pain" demonstration, Zuckerberg is selling any Facebook shares for the next 12 months. After the IPO, Zuckerberg sold about $1.1 billion worth of stock to cover his tax bills, the company said. The next time Facebook employees will be able to sell shares is Oct 29.
Zuckerberg acknowledged that Facebook had committed "a number of missteps" - the biggest one having bet "too much on HTML5 than native" code for the mobile browser. Without getting into details, Zuckerberg ... [Read more]
via CNET http://feedproxy.google.com/~r/cnet/NnTv/~3/vLwi5fqpL98/
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