Wednesday, July 28, 2021

Facebook to Tap Mobile Ads for Revenue

Financial Times: Unnamed sources familiar with Facebook’s plans say the company intends to put advertisements on its mobile apps very soon. Reportedly, the company has approached advertising agencies with proposals for “featured stories” that could go live as soon as March.

In its recent IPO filing, Facebook admitted that it lacked “meaningful revenue” from its mobile apps, a problem which, it said, “may negatively affect our revenue and financial results.” Adding sponsored stories and other ads to its mobile products could help Facebook improve its position ahead of its IPO in May.

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