| SAN FRANCISCO, Sept 14
SAN FRANCISCO, Sept 14 Facebook Inc CEO
Mark Zuckerberg might need to talk more often. A 30-minute
appearance at a technology industry conference earlier this week
has translated into $6.785 billion in additional market
valuation for his company.
Facebook shares finished Friday's regular trading session up
6.2 percent at $22 as Wall Street's confidence in the company
continued to improve in the wake of the 28-year-old CEO's first
public appearance since a rocky initial public offering in May.
The social networking company's progress introducing a new
advertising service that gives marketers improved ways to reach
consumers on Facebook also helped bolster its shares, analysts
"People are starting to feel a little more comfortable,"
said Arvind Bhatia, an analyst with Sterne, Agree & Leach.
Zuckerberg's comments, in which he highlighted mobile
business progress, suggested Facebook could enter the search
market and expressed confidence in future money-making
prospects, have improved the perception of the stock, said
Zuckerberg has a reputation for spending his time building
the company from the inside rather than going around promoting
it to investors.
On Thursday, Facebook said its nascent ad exchange was no
longer in testing mode, and several advertising agencies
reported encouraging early results using the service.
The Facebook Ad Exchange allows marketers to target
consumers with pitches based on their past Web browsing
activity, such as the websites they've visited -- a standard
online advertising technique that until now has not been
available on Facebook.
The ad exchange hints at improved monetization potential for
Facebook, said Lazard Capital Markets analyst William Bird.
The world's No.1 online social network with 955 million
users, Facebook has faced a rough debut since its May initial
public offering. Investors and analysts have fretted about a
sharp slowdown in its revenue growth. Shares of Facebook remain
well below their $38 offering price.
The ongoing expiration of "lock-up" restrictions on Facebook
insiders selling shares have added further pressure on the
"I don't think they're completely out of the woods, but it
does feel like the sentiment is improving," said Sterne, Agee &
The shares are up roughly 13 percent since Zuckerberg spoke
at the TechCrunch Disrupt conference in San Francisco on