Saverin says more growth ahead for Facebook in rare television interview
When: Today, Wednesday, February 29
Where: CNBC’s “Worldwide Exchange”
Following is the unofficial transcript of a CNBC EXCLUSIVE interview with Facebook co-founder Eduardo Saverin today, Wednesday, February 29, on CNBC’s “Worldwide Exchange” (M-F, 4-6 AM ET) conducted by CNBC anchor Brian Sullivan at the YPO Global Leadership Summit in Singapore. All references must be sourced to CNBC.
Brian Sullivan: Eduardo, how big can Facebook be?
Eduardo Saverin: I think it can really be as big as we can imagine. There’s really… really if you look at the company itself and the space it’s in the very early beginnings. And there’s just a lot of things to get done. What Facebook had really done today is it allowed us to have identity on the web. Now there’s our passport and that includes a bunch of different things that we do such as our social graph, our people around us, the things that we like and there’s a lot more to do.
Sullivan: Is it going to come from user growth meaning 800 million up or is it going to come from getting more from each of the current 800 million users or a combination of both?
Sullivan: Well, you’ve been heavy invested in consumer apps, Jumio helping with credit card processing, you’ve got ShopSavvy helping people making smarter decisions, Qwiki, that’s another consumer application that sort of to ensconce people’s lives in a more rich media format. Why are you going so heavy on the consumer side of the web and apps?
Saverin: Because I think right now it’s truly lacking. Even though Facebook has grown this big, in terms of the use that you can go and take your friends with you or you can take your interests with you and make that efficient it’s just in the very early beginnings, so there’s a lot that have to be done. In terms of Jumio, you need to perfect the payment infrastructure both in terms of fraud and in terms of the facility for you to actually pay. In terms of ShopSavvy, you need to really need to bridge, as an example, E-commerce between the brick-and-mortar sites and what’s happening on the web and with your friends. And there’s a lot of things to be done so that’s one of the areas and there’s so much to focus on, so…
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