Andreessen: I'm Bullish on Facebook, Mobile Tech
By: Silicon Valley entrepreneur Marc Andreessen said he's positive about the value of mobile technology and about one of tech's most battered behemoths, Facebook.
The inventor of the Web browser said on CNBC's "Closing Bell" Wednesday that there's an "anti-bubble" happening in technology now presenting great opportunity.
"We're buying into this market," Andreessen said of his venture capital firm, Andreessen Horowitz.
Andreessen cited a recent prediction by tech research firm Gartner that next year, some 1.2 billion smart devices will be sold around the world, and that this portends untold opportunities not only for commerce but also education. "It's the single-biggest opportunity our industry has ever had," Andreessen said.
As an early investor in Facebook — he joined its board four years ago — Andreessen is bullish on the social media giant, despite the 45 percent thrashing the stock has taken since its much-derided IPO in May.
Regarding founder Mark Zuckerberg, Andreessen said, "I think he's not only one of the best technology industry CEOs, I think he's one of the best CEOs, period."
"I'm holding my (Facebook) stock," he said.
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