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Tuesday, December 17, 2013

Facebook to test video ads, opening new revenue source, (NASDAQ: FB)

Facebook Inc took a first step on Tuesday toward selling video ads that play automatically in newsfeeds, moving cautiously to unlock a source of revenue that could annoy users.The world's largest social network, which had long been expected to try and grab a larger slice of the $66 billion U.S. television advertising market, will start by working with Summit Entertainment on ads for "Divergent," based on the popular series of science-fiction books.Facebook will run video adsFacebook said video will improve the quality of the ads on its service.

Facebook, Inc. (Facebook) is engaged in building products to create utility for users, developers, and advertisers. Shares of FB traded higher by 1.69% or $0.9101/share to $54.72. In the past year, the shares have traded as low as $22.67 and as high as $54.83. On average, 77827400 shares of FB exchange hands on a given day and today's volume is recorded at 56983868.