In the aftermath of Facebook’s bungled IPO, a list of questions remain about the social network’s plans to profit. And at the top of this list is a question we saw time and time again during the IPO build up: How does Facebook monetize its growing mobile trend?
According to a recent New York Times report, Facebook has its answer: a Facebook Smartphone, set to be released by 2013.
The Times report, citing a number of anonymous sources affiliated with Facebook, claims the company is beefing up an engineering team tasked with building its own cell phone. This would be Facebook’s third attempt at a smartphone: its first effort failed in 2010, and then last year, it was reported that a partnership had been entered with smartphone manufacturer HTC to create a phone code-named “Buffy.”
Now, the Buffy team has reportedly been expanded, and the smartphone effort seems stronger than ever. But is the Facebook smartphone a good idea? Henry Blodget, CEO and editor-in-chief of Business Insider, doesn’t think so and he joins to explain why.
The World is an independent newsroom. We’re not funded by billionaires; instead, we rely on readers and listeners like you. As a listener, you’re a crucial part of our team and our global community. Your support is vital to running our nonprofit newsroom, and we can’t do this work without you. Will you support The World with a gift today? Donations made between now and Dec. 31 will be matched 1:1. Thanks for investing in our work!