Eleven years ago this week, a 19-year-old named Mark Zuckerberg appeared on CNBC's "Bullseye" to discuss his new, expanding social networking site that had 100,000 users at the time.
The interview raised the question of whether or not "thefacebook.com"—the site's original name— would be "the next big thing."
"When we first launched we were hoping for maybe 400 or 500 people … so who knows where we're going next?" a young Zuckerberg modestly stated when discussing the magnitude of his site. "Maybe we can make something cool."
CNBC's Becky Quick asked Zuckerberg, a college student at the time, the burning question: "What is TheFacebook exactly?"
Have a look:
With over 1.4 billion monthly active Facebook users in 2015, the initially Harvard-exclusive social site has clearly exceeded Zuckerberg's own expectations. In other words, it is safe to say that Zuckerberg has made "something cool."
According to Forbes, Zuckerberg, with a net worth of $33.4 billion, is now the 16th richest person in the world.
A lot of investors gripe about Facebook Inc (NASDAQ:FB) stock, claiming it’s drastically overvalued at $80.
Facebook (FB) Stock Isnt Expensive ... Its a STEAL
They say that current investors will never get a decent return on their money; that it’s too faddish to cement itself as a cultural institution, or that it’s too early to call Facebook one today.
A lot of investors are wrong.
I have a lot of respect for value investing — Warren Buffett alone is enough to convince me of its merits — but the tragic flaw in value investing is that it chronically ignores explosive opportunities, like FB stock.
“Those Who Do Not Learn From History Are Doomed to Repeat It”
Remember the FB IPO? If you were alive and paying attention to the stock market in 2012, you remember it. It was easily the most hyped IPO of the year, and also easily the most disappointing. It debuted in May on NASDAQ at $38 per share, then promptly lost more than 50% of its value. By August, FB stock sat at $18 per share and people were calling it one of the worst IPOs in history.
It wasn’t pretty, but even if you bought Facebook stock at its IPO price of $38 per share, you’d be up more than 100% in less than three years. That’s due in a large part to the fact that FB has been monetizing mobile like crazy — something that no one had done. Most companies were still debating whether it was even possible.
VIA CNBC and InvestorPlace.com