Facebook, Inc. (NASDAQ:FB): Last week, the company axed its ad product, named “Reach Generator.” Facebook has released numerous ad products at a fast pace since its IPO. The official reason for the axe of the product has been stated by a Facebook spokesperson on the Inside Facebook blog:
“We are simplifying our offerings for advertisers, who can now achieve reach goals through Promoted Posts, a recently launched product which gives businesses the increased flexibility to hand-select and boost posts in the News Feed.”
The shares traded down $0.40 (1.80%) recently at $21.60.
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