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Facebook Has More Growth Ahead: Co-Founder

Reported by Brian Sullivan, Written by Shai Ahmed
Wednesday, 29 Feb 2012 | 6:42 AM ET

Facebook has much more growth still left and will tap its existing users as well as secure growth by increasing the total number of users, Eduardo Saverin, one of the four co-founders of Facebook who retains a 5 percent stake in the social media giant, told CNBC Wednesday.

Facebook
Facebook

The company is still “in the very early beginnings,” Saverin said, despite some analysts saying the social network had peaked.

“There are a lot of things to get done. What Facebook has done today is it’s allowed us to have an identity on the web, but there is a lot more to do,” he said.

Speaking at the Young Presidents’ Organization – a non-profit global networking platform global leadership summit in Singapore, Saverin, who is 29, added that there would be growth from both new users and existing users.

Facebook Co-Founder On Growth and Expansion
Eduardo Saverin, co-founder of Facebook, told CNBC, "what Facebook has really done today is that it allowed us to have identity on the web, now there is our passport and that includes a bunch of different things that we do, such as our social graph, the people around us, the things we like and there is a lot more to do."

“What’s really unique is that we have just touched the surface of what type of applications and uses and the social graph and what Facebook has done can help with,” he added.

Facebook filed with the Securities Exchange Commission for an Initial Public Offering (IPO) earlier this month.

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