Facebook, the social media network, has become an advertising network with it’s launch of  Facebook Ads. Facebook made the official announcement November 6, 2007 at Ad:Tech New York. The new ad network fires a shot across the bows of Google, which is trying to take Facebook head on with its own social-networking platform call OpenSocial.

Facebook ads have 3 parts:

Social Ads: Ads that are targeted to the user and user’s friends

Beacon: Ad widgets that advertisers can put on their own that allow facebook members become produce endorsers.

Insight: Provides advertises with deep analytics data so they can understand who is intereseted in there products

“Facebook Ads represent a completely new way of advertising online,” Zuckerberg told an audience of more than 250 marketing and advertising executives in New York. “For the last hundred years media has been pushed out to people, but now marketers are going to be a part of the conversation. And they’re going to do this by using the social graph in the same way our users do.”

Read Official Press Release Facebook Unveils Facebook Ads