Wednesday, 2 June 2010
Facebook has revealed that the number of groups advertising on the site has quadrupled since the beginning of last year but declined to release specific figures.
The social networking site has over 500 million users and Bloomberg claims that it is relying on ads to maintain sales growth.
Mike Murphy, vice president of global sales at Facebook, said: "We're very well positioned as people come out of this current economic situation. What we've become is absolutely core to marketing campaigns."
It is believed that companies are now spending more money on advertising after a lull in the recession and that the social networking site is a good way to target consumers who spend large amounts of time on the internet.
Facebook sells ads which are placed on the homepages of users. The ads can also appear on the user's profile page.
Customers of the site include Proctor & Gamble Co, Toys 'R' Us and Virgin America Inc.
In the first quarter of 2010 Facebook had the most display ads on the internet, amounting to 176.3 billion, according to comScore.
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