Facebook becomes Google advertising ally
Oct 19 2013 , San Francisco
Google had previously been shut out of the social network's advertising network, with no reasons given for the exclusion or the change of heart.
Word that the Internet titan's online advertising reach would extend to Facebook came as Google shares breached USD 1,000 for the first time.
Google stock was priced at USD 1,011.41 at the close of the Nasdaq yesterday and continued to climb in after-market trades.
Facebook shares also hit a new all-time high yesterday and closed at USD 54.22 a share.
"Partnership has been key to Google's success as a rising tide lifts all boats," DoubleClick senior product manager Payam Shodjai said in a blog post.
"So we're excited to announce a new way to help our clients succeed by working with Facebook to participate in FBX, their real-time bidding exchange."
DoubleClick Bid Manager is a way for marketers to buy online ad space at websites across the Internet.
Prior to yesterday, Facebook did not permit the Google-owned service to sell ad space at the world's leading social network.
"Starting in a few months, clients will be able to buy inventory on FBX via DoubleClick Bid Manager," Shodjai said.
Shares of Internet search and advertising titan Google soared past the USD 1,000 mark after a quarterly earnings report showed that it was smoothly building its presence in the mobile area while advertising earnings rose all around, with particular help from Google's YouTube website.