Facebook rolls out ad platform

Facebook on Tuesday began delivering ads to members based on what they do and who they know, following in the footsteps of social networking rival MySpace and triggering Internet privacy concerns. The move was long awaited by industry analysts wondering how Facebook will cash in on its booming popularity and capitalize on the ad-delivery alliance […]

Facebook on Tuesday began delivering ads to members based on what they do and who they know, following in the footsteps of social networking rival MySpace and triggering Internet privacy concerns.

The move was long awaited by industry analysts wondering how Facebook will cash in on its booming popularity and capitalize on the ad-delivery alliance it made last month with technology giant Microsoft.

Facebook founder Mark Zuckerberg made the announcement at a conference in New York City a day after industry-leading rival MySpace put finishing touches on an ad system it launched in July.

Zuckerberg billed Facebook Ads as a way to target ads at members in a "referral" manner mirroring the social nature of the California-based website.

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