“It’s a very big deal.
It’s a major deal.
There’s no way you can predict how big it will get.
It is going to be huge,” says David Ehrlich, a venture capitalist and Facebook executive.
Ehrlich says the social network has no plans to make the site available to all.
Instead, it is focusing on the first-ever public beta, called “The First Times,” that opens in the U.S. and Canada on March 18.
“We’ve got a really good chance to go out there and have a huge impact on people’s lives,” he says.
Facebook has made it clear it has no intention of expanding beyond its native U.K. territory.
Ehrich says Facebook is exploring the possibility of expanding outside the U, and that he believes Facebook’s business will “explode to a new level” once it does.
The company has also said it plans to introduce its new virtual assistant, Cortana, and its new “People” feature, which lets users interact with friends and family members, at the same time.
But Ehritch says those features will be built separately from the social networking site.
“This is the first time they’ve made it so that the people and the people alone are going to control the conversation,” he tells The Wall Street Journal.
“It’ll be a big deal for Facebook.”
Ehrich also says that Facebook’s current strategy is not to be “like Google,” but to build its own search engine that will make the company “a major player” in search.
But he says the company has a number of plans to develop its own digital content platform that will compete with Google’s offerings.
“We’ll start by building a brand that’s going to have the breadth and depth of Google and Google’s portfolio,” he adds.
“But we’re also going to go on to build a brand around what we do on the social side of things.
We’re going to build our own product and build it for the entire world.”
The Wall Street Report has more on the Facebook IPO.