Zuckerberg: Time to 'double down' on Facebook

Source: AP-Excite

By MICHAEL LIEDTKE

SAN FRANCISCO (AP) - Facebook CEO Mark Zuckerberg hasn't enjoyed seeing his company's stock get pummeled on Wall Street this summer, but he is relishing the opportunity to prove his critics wrong.

"I would rather be in a cycle where people underestimate us because I'd rather be underestimated," Zuckerberg said Tuesday. "I think it gives us the latitude to go out and make some big bets."

Zuckerberg, 28, made his remarks before a standing-room-only audience at a tech conference in San Francisco in his first interview since Facebook Inc. (FB)'s rocky initial public offering in May.

The social networking leader's stock has lost nearly half its value since the IPO. More than $50 billion has been lopped off Facebook's market value as the company's shares have fallen from $38 to Tuesday's closing price of $19.43.

FULL story at link.


Read more: http://apnews.excite.com/article/20120912/DA17TT0O1.html

---

Facebook CEO Mark Zuckerberg speaks during a "fireside chat" at a conference organized by technology blog TechCrunch in San Francisco, Tuesday, Sept. 11, 2012. Zuckerberg gave his first interview since the company's rocky initial public offering in May. (AP Photo/Eric Risberg)