Updated: 12/09/12 : 07:26:44Printable Version
Facebook boss Mark Zuckerberg has admitted the performance of his company's shares since its public offering "has obviously been disappointing".
Speaking at the San Francisco Disrupt conference he insisted the social networking business had survived troubles before.
His comments come in his first interview since the rocky offering in May - since then Facebook's stock has lost almost half its value since the $38 debut price in May.
Speaking in front of a standing-room-only audience, he told TechCrunch founder Michael Arrington that the pressure over the stock offering is "not like the first up and down we've ever had".
The social networking site has nearly one billion users and counting. But its challenge is how to make money from it, especially as mobile devices offer less room to display ads.
"There are tons of people super-pessimistic," Zuckerberg said.
But he added: "I would personally rather be underestimated. It gives us latitude to go out and make some big bets."
The 28-year-old CEO controls more than half of the voting stock in Facebook, and the company recently put some investors more at ease when it said in a regulatory filing that he does not plan to sell any shares for at least the next 12 months.
Zuckerberg also gave his hopes for the future of Facebook: "Ten or 20 years from now, the legacy of this company should be, we connected everyone in the world, and they're able to share whatever they want."