Facebook Inc (NASDAQ:FB) will launch a new online advertising service next week to help advertisers in targeting and measuring the impact of their commercials, which could help the company gain market share from Google, according to the Wall Street Journal.
Facebook way behind Google
According to the report, the new ad feature will be known as “Atlas,” and is based on the Atlas advertising tool acquired from Microsoft in 2013. Microsoft got its hand on Atlas as a part of the $6 billion acquisition of Quantive in 2007. The social networking site acquired Atlas with the purpose of developing its own suite for advertisers to buy, sell, optimize and track ads across the web.
Many famous hedge fund managers engage in philanthropy, often through their own foundations. Leon Cooperman of Omega Advisors founded his foundation with his wife Toby, and he invested the foundation's funds into many hedge funds and other assets. Q3 2021 hedge fund letters, conferences and more Here are Leon Cooperman's favorite hedge funds based on Read More
The aim is to give marketers a tool to target ads based on social habits to better understand how social activity influences consumer purchases. With this platform, Facebook stands in a better position to compete with Google, who is the leader in the global digital market.
According to a report from eMarketer, Google is expected to take 31.45% share of Internet ad revenue this year. The report also noted that Facebook will show the largest growth in its market share, but still stands significantly behind Google with just 7.8% market share (estimated to be worth $140 billion).
Facebook stands in a better position
The social networker is already connected with many websites through Facebook Login, and each time a user shares or “like” anything on another site, the data trove for Facebook gets bigger. The Social graph helps the social networker to connect that data with the information from Facebook to create a social ad network which has more impact than Google’s AdSense.
Facebook did not publish any comment on the report. Rishad Tobaccowala, chief strategist at Paris-based Publicis Groupe, told the journal, “What Facebook is doing is potentially more powerful than what Google can currently do.” The strategist also talked about the current capabilities of the company in targeting and tracking ads.
Facebook is expected to raise curtain on the Atlas platform at the Advertising Week Conference starting on September 29th in New York. The company will elaborate how cookies are obsolete and are faulty method for targeting and tracking online ads. Currently, Facebook, as well as Google, deploys small programs known as cookies that track the performance of online ads.