Less than two years ago, disillusioned investors were fleeing Facebook Inc. stock, worried the company would never figure out how to make the leap to mobile devices from personal computers, let alone make money on them.
Now, more than half of the giant social network’s advertising revenue is coming from ads for its 1.2 billion users on smartphones and tablets. And it’s buying WhatsApp after outbidding rival Google Inc. for the most popular mobile app for sending messages on smartphones.
Facebook’s big shift to wireless helped give Chief Executive Mark Zuckerberg top billing Monday at the Mobile World Congress in Barcelona, Spain, his highest profile yet at the industry’s largest trade show.
“It took Facebook a while to recognize the shift to mobile but once they did, they turned on a dime,” said David Kirkpatrick, author of “The Facebook Effect.” “This was a victory lap for Facebook as a mobile company.”
At the time of its initial public offering in May 2012, Facebook looked as if it might get left in the dust as consumers increasingly ditched their computers for mobile devices.
With its stock value plummeting, Zuckerberg had one challenge greater than all others: reinvent Facebook from its roots in personal computers into a company geared to the mobile generation. Results came quickly.
Read more at: Phys.org