In order to continue to grow, they need to have other properties.

They acquired Instagram for 700 million around the time of their IPO.

A couple years later, they acquired WhatsApp for 22 billion.

They also spun off Messenger, the Facebook chat service into its own app.

This multi-app strategy is helping Facebook think of other ways...

...to generate revenue beyond the main app.

Now, Facebook makes more than 80 percent of its revenue from mobile,...

...up from zero at the time of its IPO prospectus.

So, that's really driven this growth in Facebook stock...

...and it's now more than triple its IPO value.

When companies are growing as fast as Facebook is,...

...it's very easy to forgive their mistakes.

They've had some apps that never got off the ground,...

...some acquisitions that never got done...

...but as long as the revenue keeps growing to record highs,...

...Wall Street's gonna turn a blind eye and say,...

"Zuckerberg, do whatever you want."