Mark Zuckerberg, CEO of Facebook Inc (NASDAQ:FB) assured shareholders that the company is doing a great job on its services, number of users, engagement, and revenue despite the existence of many competing products and services. He is confident that the company will continue to grow.
The Market Is Expanding Rapidly: Zuckerberg
During the annual stockholders meeting of the company, Zuckerberg said that the market is expanding rapidly, and Facebook Inc (NASDAQ:FB) continues to gain users and is spending more time on its platform. He said, “None of the trends right now seemed like they should get in the way of our success in any meaningful way.”
He accepted the fact that Facebook Inc (NASDAQ:FB) will not build every app that allows people to share what they want, but he emphasized that the company’s development platform is intended for other companies to build products or services that would connect back to Facebook making user experience better.
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The Company Has Great Plans For The Product: Zuckerberg
When asked about the progress of the Facebook Home, Zuckerberg told shareholders that the company has great plans for the product. According to him, Facebook Inc (NASDAQ:FB) has been working on it for months to achieve its objective for the product- to create the mobile first version of the social network giant.
Zuckerberg previously stated that Facebook Home is the next version of the company. It is currently available in selected Android smartphones such as HTC One X, HTC One X+, Samsung Galaxy S3 and Galaxy Note II. Users can download Facebook Home on Google Play without a fee.
Facebook Home received poor reviews since its launching on Google Play. Some of the actual users complained that the app lacks widgets and security features such as password protection.
According to Zuckerberg, “Home is the first version of Facebook Inc (NASDAQ:FB) that was really designed from the ground up to be a mobile product, there was no real way we were going to get everything right the first time.”
He added that the social network giant is currently on the tweaking mode and incorporating the feedback of users to improve it, and make it possible for the company to “encourage the 100 million users of Facebook on Android to use Facebook Home as well.”
“We haven’t really made our big push yet … biggest thing that we’re going to do once we feel that we’re ready is to encourage people who have the Facebook app to go turn this on from within the app,” said Zuckerberg.
Furthermore, Zuckerberg informed investors that the social network giant is releasing a new version of Facebook Home every month, and he is optimistic that the product is great.
Zuckerberg also took the opportunity to answer the question on how much time he spends for the company. He emphasized that he devotes a meaningful amount of time in reviewing every stage of the product development and advertising business of the company.