Facebook boss Mark Zuckerberg has admitted the firm’s share performance has been ‘disappointing’ at an event in San Francisco yesterday.
Facebook shares became available in May, but the stock price fell rapidly – it’s currently worth around half of the public offering price.
Looking for a positive spin, he said: "“I would rather be in the cycle where people underestimate us."
Perhaps he’s onto the right idea – after he spoke Facebook shares went up by roughly three per cent.
At the TechCrunch event Zuckerberg said the site has up to a billion search queries a day.
Although he was eager to point out that Facebook would not be building its own mobile phones any time soon, he did talk about building on its mobile strategy.
"Over the next three to five years, the biggest question on everyone’s mind is really going to be how well Facebook does with mobile," he said.
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