Facebook to allow mobile ads
Mar 1, 2012, 0:19 GMT
New York - Facebook is priming the revenue pump in the run-up to its hotly anticipated initial public stock offering (IPO).
On Wednesday it announced that it would for the first time allow advertising on its mobile platform. The ads will appear in the mobile news feeds of the more than 425 million Facebook users who access the social networking site through their mobile devices, Facebook said at a New York marketing conference.
Facebook's announcement came a day after rival Twitter announced its plans for advertising on mobile devices.
Facebook has not specified a date for its upcoming IPO, which is likely to be one of the biggest in history, valuing the company at between 75 billion dollars and 100 billion dollars.
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