Facebook Inc (NASDAQ:FB) said it will start targeting its users with ads based on their most recent location. Shares fell slightly. In a blog post, the social networking giant said the ads would reach users within a mile of a particular advertiser, and would be visible for users who have allowed Facebook's mobile application to access their whereabouts. For those who do not share their locations, Facebook said it would continue to use the current city listed on their profile pages to target them with ads. In a related development, Facebook's Instagram unit in Australia is reportedly going to add ads to its users' scrolling feed. Mashable said the plan is to have the sponsored ads in the feed appear like the photos users' friends are posting. The ads will be tailored according to users' location, gender and age, Mashable said. The New York Times reported Facebook is also working on a stand-alone mobile app that will allow users to remain anonymous. The app would let Facebook users use multiple pseudonyms to openly discuss topics on the Internet, some of which they may not be comfortable connecting to their real names, according to the Times. In afternoon trade, Facebook Inc (FB) was off 0.52% to $75.89. This website is powered by Desktop and Mobile Push Notifications from GetPushMonkey.com.
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