Facebook Co-Founder Eduardo Saverin Talks To CNBC

CNBC anchor Brian Sullivan spoke with Facebook Co-Founder Eduardo Saverin at the YPO Global Leadership Summit in Singapore today, where Saverin discussed Facebook's potential for growth, along with plugging some of the consumer applications he is currently backing.

Last we’d heard, Facebook Co-Founder Eduardo Saverin had to refrain from discussing the social network with members of media as part of the terms of his settlement. He sspoke to CNBC anchor Brian Sullivan about Facebook’s potential for growth, along with plugging some of the consumer applications he is currently backing.

In an interview that aired this morning on CNBC’s “Worldwide Exchange,” Sullivan asked Saverin how big Facebook can be, and he replied:

I think it can really be as big as we can imagine. If you look at the company itself and the space, it’s in the very early beginnings, and there are just a lot of things to get done. What Facebook has really done today is allowed us to have identity on the Web. Now there’s our passport, and that includes a bunch of different things that we do, such as our social graph, our people around us, the things that we like, and there’s a lot more to do.

In terms of user growth, you have the limit of the world’s population. So I think both will take place. I think it’s going to expand in terms of user growth, but I think really one of the things that’s fairly unique is that we’ve just touched the surface in terms of what type of applications and uses the social graph and what Facebook has done can help with.

And speaking about two applications he is currently backing, credit-card-processing app Jumio and shopping decision aide ShopSavvy, Saverin added:

Even though Facebook has grown this big in terms of the use that you can go and take your friends with you, or you can take your interests with you and make that efficient, it’s just in the very early beginnings, so there’s a lot that has to be done. In terms of Jumio, you need to perfect the payment infrastructure both in terms of fraud and in terms of the facility for you to actually pay. In terms of ShopSavvy, you really need to bridge, as an example, ecommerce between the brick-and-mortar sites and what’s happening on the Web and with your friends.

david.cohen@adweek.com David Cohen is editor of Adweek's Social Pro Daily.
Publish date: February 29, 2012 https://dev.adweek.com/digital/saverin-cnbc/ © 2020 Adweek, LLC. - All Rights Reserved and NOT FOR REPRINT