Expert: Facebook targeting all 7B people on Earth

(CBS News) NEW YORK -- After all the hype, Facebook's stock fell flat on its first day of trading.

Shares in the social networking giant opened at 38 dollars, shot up briefly, then fell - and finished just 23 cents higher.

But it's still the most valuable U.S. company to ever go public, and many of its employees became instant millionaires.

And some analysts say what happened Friday should not be viewed as a failure, notes CBS News correspondent Elaine Quijano. They say another way to look at it is that the offering price set by Facebook and investment bankers was just right.

Facebook now has a market value of some $105 billion. That's more than Amazon and McDonald's.

Complete coverage: Facebook goes public

For Facebook, it was a "huge win," tech journalist David Kirkpatrick told "CBS This Morning: Saturday" co-hosts Jeff Glor and Rebecca Jarvis. "They achieved what they wanted to achieve, which was raise an awful lot of money to give liquidity to the early investors and the employees."

Kirkpatrick said that, right after Facebook co-founder and CEO Mark Zuckerberg rang Friday's opening bell for NASDAQ he told his employees, "Let's get back to work. I can't wait to see what you're gonna invent next."

"That's the mindset," Kirkpatrick said. "At the company, a lot of people were posting on their Facebook page, on their status update, they were just putting the figure 1 percent. That's all they put. What they meant by that was, 'We are only one percent of the way there.' It's sort of a way of saying, 'We're just getting started, keep your eye on us."'

CBS News correspondent Elaine Quijano followed the status of Friday's trading in Facebook stock and filed a report you can see in this video:

Kirkpatrick, who's the author of "The Facebook Effect," a look at the impact of the social network on our world, says the company looks at things as there are "7 billion people on the planet. ... Mark really believes he can get to the majority of the planet.

"In fact, if you look at the growth they've been experiencing in the last couple of years, it's been in Indonesia, Brazil, South Africa, Nigeria -- these are the places they are targeting.

"The reality is that those markets generally are not very lucrative, there's not a big Internet advertising market in those countries. But the point is, they have a really long-term view.

"And that's where the (disconnect)occurs, because Wall Street has a really short-term view. It's an odd thing for a company with such a big picture, social mission as Facebook to kind of butt up against the very short-term money-oriented mindset of Wall Street.

To see the entire interview, click on the video in the player above.

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