At today's F8 Facebook developer's conference, the social network announced the creation of a new mobile device advertising service. The Facebook Audience Network allows developers to use the network to embed Facebook-hosted advertisement in applications, with the coder and Facebook sharing the revenue. Facebook Chief Executive Mark Zuckerberg said during his speech announcing the service that "this is really the first time that we're going to help you monetize in a serious way on mobile."
The service began testing in January. It is intended as a competitor to similar services from Twitter, Google, and Apple. Rollout of the service will be gradual, with more developers added today. It is unknown when the ad platform will be widely available.