Facebook says ad spending is rocketing

The very same advertisers who were once skeptical that buying up inventory on social networks could possibly do any good are now, apparently, going completely nuts about ads on Facebook.

Chief Operating Officer Sheryl Sandberg, the company’s most prominent liaison to Madison Avenue, said in an interview with BusinessWeek published Wednesday that the company’s biggest advertisers have boosted their spending on Facebook by tenfold, or even 20-fold, in the past year.

“Two years ago the big brands were experimenting with us,” Sandberg told BusinessWeek. “They started buying with us a year ago. Now, they’re going big.”

Via: CNET

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