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FACEBOOK INC

(FB)
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Facebook : launches ads globally for Instagram Reels

06/17/2021 | 11:22am EDT
FILE PHOTO: Silhouettes of mobile users are seen next to a screen projection of Instagram logo in this picture illustration

(Reuters) - Facebook Inc is launching ads globally on its TikTok clone Instagram Reels, the company said on Thursday.

The social media company, which is aiming to make money from its short-form video feature, began testing Instagram Reels ads in India, Brazil, Germany and Australia in April. The tests ran with brands such as BMW, Louis Vuitton, Netflix and Uber.

"We see Reels as a great way for people to discover new content on Instagram, and so ads are a natural fit," said Instagram's Chief Operating Officer Justin Osofsky. "Brands of all sizes can take advantage of this new creative format in an environment where people are already being entertained."

The company said that Reels ads, which will loop and can be up to 30 seconds long, will appear between individual Reels.

(Reporting by Elizabeth Culliford, Editing by Nick Zieminski)


ę Reuters 2021
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Financials (USD)
Sales 2021 119 B - -
Net income 2021 40 533 M - -
Net cash 2021 79 259 M - -
P/E ratio 2021 25,8x
Yield 2021 -
Capitalization 1 023 B 1 023 B -
EV / Sales 2021 7,92x
EV / Sales 2022 6,51x
Nbr of Employees 63 404
Free-Float 84,0%
Chart FACEBOOK INC
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Technical analysis trends FACEBOOK INC
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TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 51
Last Close Price 362,97 $
Average target price 413,28 $
Spread / Average Target 13,9%
EPS Revisions
Managers and Directors
Mark Elliot Zuckerberg Chairman & Chief Executive Officer
David M. Wehner Chief Financial Officer
Michael Todd Schroepfer Chief Technology Officer
Atish Banerjea Chief Information Officer
Sheryl Kara Sandberg Chief Operating Officer & Director
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