SAN FRANCISCO (Reuters) – 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.
Read also:
Zuckerberg's Remarks Give Facebook Shares a Boost But Can He Deliver? (TIME)
Facebook stock gets a much-needed Zuckerberg boost (Christian Science Monitor)
Facebook posts biggest one-day pop (MarketWatch)
Explore: 1,904 additional articles.
Recent Articles
-
Wecome to the ZATZ Studio
-
HTC’s HD7, the HD2 update
-
Is Windows Phone 7 for power users?
-
Open question: what would you like to see us cover?
-
Citizen journalism: is it sustainable?
-
Nik Software’s HDR Efex Pro reveals photographic details previously hidden to the naked eye
-
Status report: migrating ZENPRESS to a new platform
-
Internet Explorer 9 is out — should you download it?
From Our Sponsor
