When the year started, things looked pretty grim for Facebook (FB). But CEO Mark Zuckerberg found a way for Facebook to get its groove back, and FB stock lit up as a result.
So far, the year-to-date return for FB stock is about 116%. But the interesting thing is that the climb happened even though Facebook had plenty of failed products.
This is nothing new, of course. Over the years, FB has had flops like Places (a service to find the locations of users a la Foursquare), Camera (a rival to Instagram) and Questions (a Q&A service). But in light of this, it does seem surprising that FB stock is still worth a staggering $140billion.
Then again, when it comes to innovation, failure is necessary. Let’s face it, other companies like Google (GOOG) and Apple (AAPL) have had their share of misfires. So for FB stock, it’s a good thing that 2013 was far from perfect.
Still, let’s take a closer look at a few of the recent duds, including Facebook Poke and Facebook Home.