Mark Zuckerberg has successfully transformed himself from being Steve Jobs to Tim Cook. Less than 18 months after Facebook’s IPO, he was nearly ousted out of the Board of Directors from the pressure of the public capital market, for failing to monetize advertising income. The stock dropped to 50% of its IPO level. However, the stock nearly doubled within the subsequent year as he was able to switch gears and convert a vision into bankable revenue.
One of his best leadership traits is that he is able to “franchise” his success story. In 2012, he bought Instagram for $1 billion, albeit controversial, it is valued at $35 billion today. In 2014, he purchased WhatsApp for $19 billion. Today, WhatsApp looks to access emerging markets where internet connectivity isn’t widely available. It has grown from 450 million users to over 700 million with 70% active daily users, compared to Facebook’s 62%.
In 2013, Zuckerberg attempted to replicate Instagram’s success by offering $3 billion for Snapchat Partners and failed. The new Snap Inc., the most anticipated tech IPO in 2017, is valued at $25 billion.
More than just his relentless pursuit of success, he is able to execute his visions effectively.
Yahoo made $1 billion bid on Facebook in 2006, and the entire management team quit when Zuckerberg turned the offer down.
In 2016, Facebook, at $347 billion, is traded at close to 3.5 times at its IPO price just 4 years later.
Zuckerberg envisions all future social interactions in virtual reality. He believes that “Virtual Reality is a virtual reality.” To this end, Facebook purchased Oculus for $2 billion in 2014 and spent additional $250 million in VR R&D, setting aside additional $250 million for future R&D, and $50 million for mobile VR content.
In addition to Steve Jobs’ philanthropic, unapologetic, and demanding, Mark Zuckerberg is also described as passionate, purposeful, personable, and innovative.