Many analysts were skeptical of Facebook's ability to create a business from mobile. Mobile revenue just before the IPO was zero.

Name: Many analysts were skeptical of Facebook's ability to create a business from mobile. Mobile revenue just before the IPO was zero.
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Before Facebook's IPO, there was significant skepticism regarding its ability to monetize mobile usage effectively, as its mobile revenue was indeed virtually non-existent at that time.

Many Analysts Were Skeptical of Facebook's Ability to Create a Business