Mike Schroepfer is Facebook’s New CTO. Will Wall Street Like Him?
AllThingsD has reported that Mike Schroepfer will be the new chief technology officer for Facebook. Will this be enough to get people excited about the company’s prospects again? Facebook has been hammered by Wall Street since it’s initial public offering and Schroepfer has large shoes to fill as he replaces Bret Taylor who left the company for a startup.
Schroepfer will be expected to hit the ground running and as users eagerly await the implementation of ‘Graph Search’, it will be the new CTO’s job to make sure it launches smoothly. ‘Graph Search’ could be an equalizer for Facebook in catching Google and reducing its dominance in search engine technology. Since users are spending more time on Facebook than search, it’s assumed ‘Graph Search’ could be a large revenue driver for Facebook if it works well and doesn’t decrease from social media engagement.
What Schroepfer Will Need To Focus On
Wall Street doesn’t seems indifferent to the announcement of Schroepfer as the CTO and the stock isn’t moving much in the after hours session. Schroepfer will have some other issues to deal with as the new Facebook CTO. There are some rumblings that users are leaving Facebook or spending less time networking and heavy advertising has cluttered the newsfeed.
Instead of opening one’s newsfeed and seeing what friends are doing, an advertisement in large scale is now the opening story. Privacy issues are also a big factor in user bounce rates as some people have become worried about who can see what.
Schroepfer will have to be clear on privacy, make ‘Graph Search’ work well and avoid over advertising to be successful. We wish him luck.