Mark Zuckerberg talks IPO, regrets at TechCrunch Disrupt

TechCrunch founder Michael Arrington, left, interviewing Facebook CEO Mark Zuckerberg, right, at TechCrunch Disrupt in San Francisco on Sept. 11, 2011.

/ CNET/James Martin

(CBS News) Facebook chief executive officer Mark Zuckerberg gave his first interview following the social network's rocky initial public offering.

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Zuckerberg was interviewed by TechCrunch founder Michael Arrington. Right off the bat, Arrington asked Zuckerberg about the fact that Facebook's stock lost half of its value.

"Just get right into it," Zuckerberg joked.

"If you could have done anything differently, in hindsight, would you have?" Arrington asked.

Zuckerberg emphasized the importance of the long-term growth of Facebook, saying that the company wants to build value over the long-term and much will be determined over how well Facebook will do with mobile over the next 3 to 5 years.

One of Zuckerberg's great regrets was "betting completely on HTML 5," adding that Facebook burned two years building a mobile app using HTML 5 instead of programming natively for iOS and Android devices.

Zuckerberg admitted that he only writes code in his free time, citing a rule at Facebook that once code is submitted the coder must follow through when code breaks. 

"Does Mark Zuckerberg's code break?" Arrington asked.

"Everything I make breaks. But we fix it quickly," Zuckerberg replied.

When asked about Instagram, Zuckerberg said that Facebook's motivation was to get the mobile photo-sharing app in-house, so that it could be prioritized. And for Instagram, the app's engineers now have direct access to Facebook's code, so that they can build products more quickly. Zuckerberg reiterated that Facebook wants to help Instagram grow.

Arrington pressed Zuckerberg for answers of whether or not Facebook will release a phone.

"It makes no sense," Zuckerberg replied.

For his final question Arrington asked: "Are you still having fun."

"Yeah!" Zuckerberg exclaimed.

Facebook filed for its IPO on February 1, with Morgan Stanley as its lead underwriter. The Menlo Park, Calif.-based social network has 901 million users and reported $3.7 billion in revenue in 2011. An estimated 488 million people access Facebook via mobile products.

On opening day, Facebook offered 421,233,615 shares of common stock at $38 per share under the ticker symbol "FB." Facebook's after market price on Tuesday was $19.43.

[kbbpll]

I bet his next great idea for future growth is people auctioning off their stuff to their "friends".

[cuffhead]

Does this nerd own any other piece of clothing than a walmart tee shirt?

[Montana5]

Anyone who bought this stock @$38 should consider rehab.....you have to be on some mind altering substance. This stock is like any other start-up tech offering.....has value but what? Someone previously probably got it right.....$5 a share? Long term? We'll see but I'm not buying.

[JohnStockton77]

There are 2 types of idiots--CEOs and ordinary people who use programs like Facebook. YOU ARE AN IDIOT if you use Facebook. Why publish photos, info about yourself to the whole world. Are you crazy? Share info with people you REALLY know and trust, not the Internet, but your REAL "Friends." Noone neede facebook. Facebook "friend" is a total bit of stupid nonsense that means nothing. Yet millions of people buy into this stupidity

[ImpendingHorrors]

Says something about the current state of the world, doesn't it?

[lnytnz]

right on !! facebook is so yesterday. bye Mark

[dontforget911]

Boy wonder Zuck was dreaming to be a billionaire. He may have a good idea but he is no CEO. He's lucky that the stock is at $19/share. I guess there are still fools out there that dream to get rich on FB so the stock hasn't crashed yet.

[ImpendingHorrors]

In NBC News' version of this story, Zuckerberg's good ideas for future growth are "search, mobile, and make a smartphone". Clearly, Zuckberberg has ZERO imagination, ZERO new ideas.

[lnytnz]

the stock has never been worth more than $5

[makeinu]

Ha! His only real regret? Not soaking people for more money on that stupid IPO.

[Jesus_to_ground_control]

Bad Blood

Zuckerberg is a vampire that uses facebook to extracts people's life blood. The program could have been so much more than a gigantic leech.

[John782011]

Whether Native or HTML5 the mobile device real estate just does not support ads. They will need to hack into your messages and then project ads when you are not actively exchanging information.