Facebook's Graph Search Show: Tech Weekly

NEW YORK (TheStreet) -- Facebook (FB) was the week's biggest headline-grabber, unveiling its Graph Search technology at a press event on Tuesday.

CEO Mark Zuckerberg described Graph Search as a new way to search the 1 billion people and more than 240 billion photos on Facebook, as well as the social network's connections, which number more than 1 trillion.

During his presentation at the company's headquarters in Menlo Park, Calif., Zuckerberg emphasized that Graph Search is different from Web search, highlighting both the technology's scale and its constantly changing nature.

Investors, however, were underwhelmed by the beta-search technology, and Facebook's shares fell following the announcement.

There had been intense speculation about search news leading up to the press conference, along with talk of a possible video-streaming deal with Netflix (NFLX) and even a Facebook phone.

Zuckerberg was unable to say when Facebook might monetize the Graph Search technology. This clearly irked investors. Instead, the youthful Facebook supremo said that "this could be a business over time."

TheStreet's Chris Ciaccia, who attended the Facebook event, believes that Graph Search will generate significant revenue over time and could eventually make inroads into Google's (GOOG) search business.