“We’re obviously disappointed and really surprised by what happened in the IPO,” Sandberg told CNBC in the interview. She also admitted that Facebook’s employees have been “disappointed” to see the company’s stock price plummet.
Sandberg wouldn’t comment on what exactly went wrong with the IPO or who was to blame — there are still pending lawsuits over the IPO — but she did note that Facebook has been more focused since the IPO on introducing new products and looking for ways to monetize.
“I think what we’ve done since the IPO is continue to really focus on building that business,” Sandberg told CNBC. “And I think we’re executing better and better.”
In the months since the IPO, Facebook has rolled out several promising new features intended to boost revenue and appease advertisers and investors alike. In June, the company announced a new advertising exchange to allow businesses to bid on ad spots based on user’s browser histories. Shortly afterwards, Facebook debuted its first mobile advertising unit and recently began testing mobile ads in third party applications. Just last week, Facebook re-introduced a gift giving platform on the site that could turn into a major source of revenue for the company.
During the interview with CNBC, Sandberg revealed the company’s plans to introduce yet another revenue-generating feature: premium services for businesses. While Sandberg didn’t offer much in the way of details, CNBC suggests this could mean better analytics and customer service.
Sandberg’s comments on the IPO echo those of Facebook’s cofounder and CEO Mark Zuckerberg, who said the stock’s performance has “obviously been disappointing,” during his first post-IPO interview with TechCrunch in early September.
Facebook’s stock opened above $22 on Monday for the first time in more than a week, but the stock is still well below its IPO price of $38 a share.
Image courtesy of Flickr, World Economic Forum