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Investors Vent Fury At Facebook Meeting - Investment - Nairaland

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Investors Vent Fury At Facebook Meeting by Afriface: 5:42pm On Jun 12, 2013
Anyone who pays a reasonable amount of attention to tech news knew what would be Issue One at Facebook's first-ever shareholder meeting on Tuesday. And clearly the company's CEO Mark Zuckerberg saw the questions coming.
"We understand that a lot of people are disappointed in the performance of the stock, and we really are, too," he said in a statement at the start of the meeting.

Facebook has frustrated investors since its high-profile, high-value initial public offering. After a $38-per-share IPO in May 2012, the price of Facebook stock quickly plummeted. Today, it's trading below two-thirds of that price, at $24. That has meant a massive slide in the company's valuation, from $104 billion at its IPO to around $58 billion today.

Zuckerberg explained that while he's unhappy with the company's performance, he also takes a long-term view of the company's prospects and expects fluctuations in how the public views it.
Facebook has stabilized since its shaky start as a publicly traded business. In May it reported first-quarter revenues of nearly $1.5 billion, nearly 38 percent higher than revenues in the same quarter of 2012. On Tuesday, Zuckerberg also highlighted the growth of Facebook's mobile offerings and app development.

http://www.tundeola.com/2013/06/investors-vent-fury-at-facebook-meeting.html
http://www.usnews.com/news/articles/2013/06/12/facebook-investors-vent-over-privacy-stock-price

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