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Wednesday, September 12, 2012

Facebook CEO's 'search' comments raise hopes, questions

Image representing Facebook as depicted in Cru...
Image via CrunchBase
Facebook Inc Chief Executive Mark Zuckerberg has fired a warning shot that threatens to ignite a battle to marry social networking with one of the most valuable areas of the technology industry: search.

Long dominated by Google Inc, the Web search market represents a "big opportunity" that Facebook is uniquely positioned to address, Zuckerberg said on Tuesday at a tech industry conference in San Francisco.

Zuckerberg's comments, the clearest signal that Facebook is eyeing one of the Internet's most lucrative markets at a time when its own advertising revenue growth rates are slowing, helped shore up the company's battered shares.
Facebook's stock, which had lost roughly 50 percent of its value through Tuesday since the company's May initial public offering, finished Wednesday's regular trading session up 7.7 percent at $20.93 -- the biggest one-day gain since Facebook began trading on Nasdaq. ... Continue to read.
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