CNET News Video: Mark Zuckerberg's advice on IPOs
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CNET News Video: Mark Zuckerberg's advice on IPOs2:55 /
At TechCrunch Disrupt, Facebook CEO Mark Zuckerberg offers advice to Twitter on its expected IPO.
-So Twitter is going to go public. Now you've gone through the whole thing and you had your, you know, some pretty rough times but everything is great now. What's your advice to them as they consider this process? -See, that's funny on its surface because I'm kind of like the least person you would wanna ask last how to make a smooth IPO. But you know seriously it's actually a valuable process. So you know having gone through what I think most people would characterize as an extremely turbulent first year as a public company, I can tell you. I actually don't think it's that bad. You know I was really heartened by the fact that I was really worried that you know people would leave the company and people would get really demoralized when the stock price was down, but people are really focused on the mission and really believed in the products that they're working on and we haven't seen a lot of that. I actually think that it's made our company a lot stronger because the process of going leading up to going public you have to know everything about your company and kind of inside out have everything instrumented, and I always thought we were very data-driven company, but I mean the work that Ebersman and crew did to get us ready to be public really took this to the next level, and we run our company a lot better now. So I mean in retrospect I think I was too afraid of going public, and I think you know I've been very outspoken about staying private for as long as possible. I don't think it's that necessary to do that and, you know, you just gotta stay focused on doing the right stuff and, you know, sometimes it might take the market a little while to catch up and see the results of what you're doing. I mean I remember last year when we were here I was kind of laying out what we were planning on doing on mobile and everyone thought that mobile was this disastrous thing for Facebook. I mean last year 2nd quarter we had basically no money, no revenue on mobile and now I mean it's in our last quarter a year later more than 40 percent of our revenue was mobile. You know when people think that, you know, there's more competition on mobile, there's more great apps. You know people spend on desktop 1 in 7 minutes with Facebook of kind of all their time on the web and on mobile it's more. It's 1 in 5. You know according to comScore, you know, it's around 20 percent and the next biggest app is Instagram. So you know we've focused on kind of doing what we think are the right things and we're growing. We're connecting more folks. People are engaging more, sharing more content, you know, all the stuff that we just come in and get excited about every day. So I think you know as long as Twitter and I mean this goes for all these private companies that are thinking about when they wanna go private. As long as they kind of focus on what they are doing then I think it's wonderful. It's great.