Facebook Inc (NASDAQ:FB) COO Shery Sandberg admitted the she was surprised and disappointed by the result of the company’s initial public offering (IPO), and pointed out that the social network giant increased its focus on monetization, during an interview with CNBC’s Julia Boorstin on Squawk Box.
Sandberg also emphasized that Facebook Inc (NASDAQ:FB) is a product-driven company. Its management team and employees are energized and concentrated towards the success of the social networking giant. She said, “We’re taking that energy and really focusing on proving to the world that we can continue to grow our business, continue to grow our users and their engagement, and build a great company, not just for a quarter, but hopefully for decades.”
During the interview, Sandberg avoided the question of whose fault was the IPO. Instead, she focused the discussion on Facebook’s efforts to boost its capability to monetize its platform, and new products for mobile users. She reiterated that the company is concentrated on the things they can control, such as growing the business, providing great experiences for users, its transition to mobile, ensure a leading position, and most importantly increasing its focus on monetization.
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In addition, she told Boorstin that Facebook Inc (NASDAQ:FB) employees are enthusiastic in developing great products that will help the company achieve its mission. She said Facebook is a better place than any other company for those who want to build social products and seek bigger opportunities.
Sandberg believed that Facebook is more valuable at present than four months ago, since its IPO. She said,” If you look at what we’ve done since we went public, we’ve invested more in monetization, and we’re showing great products with great returns for advertisers.”
She also stressed that Facebook Inc (NASDAQ:FB) is aggressively rolling out products. The company is also quick in changing products. The Facebook COO also enumerated some of the products and services recently released by the company, including the Facebook exchange, custom audiences, new mobile ad formats, and revamped offers to help marketers in making their ads more effective and useful in targeting their audience to generate revenue.
Furthermore, Sandberg emphasized that Facebook has the biggest opportunity to grow, citing the fact that it has the largest community of engaged users worldwide. She is confident that they can prove to advertisers they can get better returns from their ad placements on Facebook.
Moreover, Sandberg said mobile is a huge strength and opportunity for Facebook. According to her, Facebook is serious about it. She also emphasized that Facebook’s most effective ads are running on news feed, and it is creating a natural opportunity and native advertising experience on mobile.
Sandberg also told Boorstin that Facebook Inc (NASDAQ:FB) is exploring other options to increase its revenue such as selling premium services to businesses.
Most recently, the social network giants introduced the Facebook Gift service, a new strategy for the company to make money.