Mary Meeker: Facebook IPO A ‘Financial Tsunami’

By David Cohen 

Kleiner Perkins Caufield & Byers Partner Mary Meeker pinned most of the blame for the poor performance of Facebook’s initial public offering on the technical issues experienced by Nasdaq, calling the IPO a “financial tsunami” while speaking at AllThingsD’s D10 Conference Wednesday.

The New York TimesDealBook reported that Meeker doesn’t expect a short-term rebound, but she called Facebook a “great” company that “will do very well,” and said of the IPO fiasco:

We’ve never seen anything like it before. Confidence and momentum in the market is so important.

Meeker also said that if the Facebook IPO had been conducted as an auction, which Google did in 2004, its shares would have been priced significantly higher, DealBook reported.

In her annual Internet Trends report (embedded below), Meeker pointed out the oft-mentioned discrepancy between mobile users and revenue in the chart below, saying that mobile growth is helping the social network expand its users base, but at the same time holding back revenue growth.

Meeker also focused on the open graph-fueled growth surge by video application Viddy, as demonstrated in the chart below.

KPCB Internet Trends 2012