Everyone is focused on monetizing mobile, but there are concerns esp as not even GOOG nor FB can figure it out.
Large TMT Hedge Fund player Philippe Laffont, founder and
portfolio manager of Coatue Management (a Tiger spin out), weighed in on
Facebook the other day, stating the fact (and concern) that it was built before debut of smartphones.
“It is a company that is sort of PC-based,” he said,
adding that social networking has become a casual encounter better positioned
for a mobile platform.
Laffont cited Facebook’s acquisition of
Instagram as a smart move because it will help Facebook integrate on
mobile, but he said the purchase was also a sign of weakness: “I don’t think
it’s going to be so easy for Facebook.”
Not even Google has figured out the trick to monetizing
the growth of mobile Internet access. GOOG
posted a second-quarter profit of $2.79 billion, up from $2.51 billion based on
the dominance of its Internet search business. Paid clicks on Google’s
advertisements were up 42% from a year earlier, but price per click fell 16%. Google pulls in less ad revenue from its
service on mobile phones. The latest quarter was Google’s first since closing
its $12.5 billion purchase of Motorola Mobility, which contributed $1.25
billion in revenue or about 10% of Google’s total for the quarter,
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