Seeking new ways to generate revenue, Facebook has launched a beta ad service aimed at encouraging users to download new applications to their mobile devices.
The "Mobile Ads for Apps" service is rather straightforward: software developers will pay Facebook for the right to advertise their mobile applications on a user's news feed, rather than just as a Sponsored Story. When a user clicks the ad, they'll be sent directly to the App Store or Google Play, depending on whether they own an iPhone or an Android handset, where they can download the app with just a single swipe.
Developers can leverage Facebook's trove of data to get the most out of their ad impressions, targeting users by age, gender and whether or not their friends have downloaded the app, according to Inside Facebook. Users will only be sent to an app store if they don't already have the application installed.
With all its cards on the table since going public, Facebook is in a nervous dash to increase ad revenue and resuscitate its shares, which have plummeted to nearly half their IPO value in just over a month. The social network has admittedly struggled with users migrating from the desktop to mobile devices. Mobile ad sales increased 32% in the second quarter, down from the 45% growth rate the previous quarter, according to Bloomberg.
Chiquita Skins CEO (WSJ)
Chiquita Brands International is parting ways with Chairman and CEO Fernando Aguirre due an ongoing decline in the fruit and vegetable company's earnings.
Cord-Cutting on the Rise (WSJ)
Cable companies lost as many as 400,000 subscribers during the quarter ended June 30, providing further proof that "cord-cutting" is very real.
About Time (AllThingsD)
The New York Times has reportedly reached a preliminary agreement to sell its struggling About.com site to rival Answers.com for roughly $270 million.
Toyota to Add North American Staff (AP)
With the yen remaining strong, Toyota plans on building more models and adding more jobs in North America in the coming months.
The Fallout Continues (Bloomberg)
The relationship between General Motors Chief Executive Dan Akerson and Joel Ewanick, the company's former global marketing chief, was on shaky ground well before Ewanick was fired for failing to properly vet the financial details of a blockbuster soccer deal.
Travelocity Flip-Flops (Ad Age)
McKinney, the agency credited with inventing Travelocity's famed gnome mascot in 2003, has reclaimed the account after being replaced by Leo Burnett two years ago.
Droga5 Wins Coke Zero Account (Ad Age)
After cutting ties with CP&G earlier in the summer, Coke Zero has selected Droga5 as its new lead agency for the U.S., passing on the likes of fellow finalists 72andSunny and WPP's Ogilvy, among others.
Buzz Around the Office
A Routine Emergency (ABC)
A 67-year-old Tennessee man was arrested over the weekend after dialing 911 and asking the dispatcher to drive him to pick up some beer.
List of the Day: Good Communication Skills
We all need 'em, especially if you need to tell employees how to get their work done.
1. Be very specific about what you want.
2. Negative feedback is a necessary part of life.
3. Document everything.