Why I 'like' Facebook, but can't use it: Langone

Langone 'likes' Facebook

Billionaire entrepreneur Ken Langone told CNBC on Thursday that he likes Facebook stock.

"Believe it or not, I'm getting pretty excited about Facebook," revealed the co-founder of Home Depot. "I think they're demonstrating traction and revenue growth in terms of advertising."

In a "Squawk Box" interview, Langone said he started buying Facebook last week, but he's not on the social network. "I'm not on Facebook because I wouldn't know what to do if I got on it."

Langone is also the founder and CEO of Invemed Associates, an investment company specializing in health-care and technology opportunities.

He's a board member of Geeknet, which owns and operates ThinkGeek, an online retailer of products like "Star Trek" apparel, "Star Wars" headphones and all kinds of action figures.

—By CNBC's Matthew J. Belvedere.