Mahaney was asked what Facebook is worth currently. He replied, "They are worth $105, that's our price target. At one time Facebook probably was worth $15 because they couldn't figure out mobile. Once they figured out mobile - which is where all their dramatic growth has been over the last 3 years- then the stock deserved to appreciate to go higher. It just hit a all-time high yesterday. Maybe there's a little bit of positive sentiment about Oculus Rift coming out of the E3 conference last year."

On his current outlook for Twitter, Mahaney said, "We are on sidelines on twitter. We haven't recommended the stock in quite some time, we did after the IPO. There's too much of wood to chop at that company both in terms of fixing the product for user and fixing the product for advertisers. There's a lot of uncertainty about it. If one company can take out the other's TAM or total adjustable market, it's more likely to be Facebook taking up Twitter's TAM than the other.