In 2010, Mark Zuckerberg was not a fan of advertising.
“There’s no point right now in having a massive profit,” he said then. “[Ads] factor in, like, not at all.” Instead, he was focused on attracting 1 billion active users.
Now Facebook and its mobile advertising business are surging. During its last earnings call, Facebook reported that 49% of its revenue comes from mobile advertising, up from 14% on year prior. Its stock has risen above its IPO price and is trading at $54 per share.
The Wall Street Journal’s Evelyn Rusli interviewed Mark Zuckerberg and a number of Facebook executives to figure out how the company shifted gears and saved its mobile business.
When mobile apps started taking off, Facebook fell behind. Its app was faulty and none of the traffic was being monetized. Facebook’s desktop ads translated poorly to mobile. Zuckerberg and his board realized they needed…
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