SOURCE: Facebook Wants Mobile Ads On Air Before Stock Starts Trading

Facebook wants the new mobile ad product it is developing to go live before its IPO starts trading, a source tells us.The social network is developing rich-media ads for mobile phone apps with Razorfish, the digital ad agency owned by Publicis.Lack of mobile ad revenue was one of the few negatives Facebook revealed in its S-1 filing. It's actually a drag on revenue, because Facebook's overall ad business is slowing and more of its users are accessing their accounts on phones.Thus it makes total sense that Facebook is in a rush to get a new revenue stream online before it sells stock, so that it can convince retail investors that there is future growth in a company whose stock is clearly already over-hyped."I heard it from five people in the Palo Alto office," said the source who requested anonymity because they "don't want to get them into trouble [and] I don't want to get in trouble either!" The source continued, "Obviously it depends on when the product is ready for release of course, though—time scales are not guaranteed by engineering on anything at Facebook."Please follow Advertising on Twitter and Facebook.Join the conversation about this story »See Also:Facebook Claims It Increased P&G's Deodorant Sales By 9%Facebook's Ad Business Distilled Into 12 Crucial FactsFINALLY: Facebook Will Put Ads On Your Mobile Phone

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