Facebook prepares to enhance its mobile ad offerings  (Source: TheNextWeb)
Popular social networking site Facebook is reportedly going to launch an ad network later this month.

No. 1 social networking site Facebook plans to unveil its first ad network later this month during the F8 developer conference in San Francisco on April 30, 2014.

The ad network has reportedly been in the works for at least a few years, and will launch with a small number of carefully selected ad partners. However, the ad network will continue to expand in the coming months with Facebook expected to find great success from using mobile ads.  Facebook ad revenue continues to grow, and the company has a large amount of personal information on its 1+ billion worldwide users. 
Since mobile ads feature less room to display text, visual and video ads, it’s important for Facebook to use targeted advertising carefully.  During Q4 2013, Facebook mobile ad revenue totaled $1.25 billion, which is more than half of all company advertising revenue, with that number expected to continue in the future.  
The company garnered just 5.4 percent of the mobile ad revenue market in 2012, but that number increased to 17.5 percent in 2013, and analysts believe that number could skyrocket with the introduction of a custom ad network.
More users are going mobile, using smartphones and tablets, opening the door for a lucrative market that websites and advertisers want to target.  

Source: re/code

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