Facebook Inc (NASDAQ:FB)’s Chief Operating Officer, Sheryl Sandberg is excited about the potential of small businesses on the world’s largest social networking site.
In an interview with Alix Steel on Bloomberg’s Street Smart, the Facebook Inc (NASDAQ:FB) executive enthusiastically talked about how her company is helping small businesses. It goes without saying, however, it is likely that as activities of small businesses on the social network increases, so does their spending on products on Facebook such as sponsored posts and videos.
“I think video has long been really important for big brands to be able to tell their story and say it in an emotional way. I think what’s really exciting about Facebook is we let small companies do it too because it’s cheap and affordable. We have 1 million small businesses which have uploaded a video on Facebook – 1 million. I doubt a million small business have bought a TV ad at least in the last quarter because that’s a really expensive proposition but uploading a video ad to Facebook is something that you can do,” Sandberg tells Steel.
According to Sanberg, Facebook Inc (NASDAQ:FB) has 2 million advertisers around the world and 30 million small business using their free Pages product.
Video, it appears, is exploding on the social network. Sandberg notes that this is why their co-founder and CEO, Mark Zuckerberg, talked about this area during the latest earnings call of the company. Sandberg says that the social network now has 4 billion video views every day. Video is a very exciting ad format, she adds, because marketers love the ability to tell their story with the format.
Meanwhile, the Facebook Inc (NASDAQ:FB) executive also told Steel that she is confident with the company’s position as the market transforms to a more mobile-centric market.
“We’re excited about our trajectory and the opportunities we have in front of us. The mobile shift is happening fast and I think Facebook is really well-positioned to take advantage of that. Americans are now spending 25% of their media time on their phones and that number is growing. More people around the world are getting phones. Facebook and Instagram, we get 20% of that time,” she says.
Furthermore, Sandberg says that her company has “a great ad product” which she thinks is by far “the best mobile ad product in the market” since it integrate in the user experience.
Stephen Mandel’s Lone Pine Capital owned about 13.5 million Facebook Inc (NASDAQ:FB) shares by the end of the last quarter of 2014. The stake was increased 57% quarter over quarter.
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