Facebook is a mobile company and will make more money from their mobile platform than from their desktop website in the long-term, Mark Zuckerberg said Tuesday at a TechCrunch conference in San Francisco.
Mark ZuckerbergIn his first interview since the company went public, Zuckerberg told Michael Arrington, the founder of TechCrunch, that he expects to make more money from mobile advertising than from desktop advertising because the ads are more integrated into the platform.
"What we are seeing already, even with the early mobile ads that we have, is that they are performing even better than the right hand column ads on desktop...there's a huge opportunity," Zuckerberg said.
Zuckerberg also noted that Facebook will not be making its own phone. "Clearly that is the wrong strategy for us," Zuckeberg said.
Facebook's (FB) stock has lost about half its value since its IPO, but the 28-year-old CEO has remained silent on the stock's decline until Tuesday.
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"The performance of the stock has been disappointing," Zuckerberg said. "We care about our shareholders...we are going to do the things we think that add value over the long-term."
He said he thinks the biggest mistake Facebook made as a company was betting too much on HTML 5, which cost the company two years. "But we're coming out of that now," he said.
While, Zuckerberg said during his interview that he cares about his company's shareholders, he has made it clear in the past that the company mission does not revolve around them.
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"Going public is an important milestone in our history. But here's the thing: our mission isn't to be a public company. Our mission is to make the world more open and connected," Zuckerberg said in a speech before he rang the opening bell at the NASDAQ May 18, the day the company went public.
Major Facebook investors Peter Thiel and Dustin Moskovitz have both recently sold large quantities of company stock, also stirring concern among investors.
Shares popped over 4 percent in after-hours trading
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