Facebook to introduce augmented reality into ads
Facebook (FB) stated in a blog post that it is bringing AR (augmented reality) technology to ads on its platform, which will let users try products using the technology before they buy the product. The AR-equipped ads will appear on the News Feed, giving users the option to “try” products such as clothes, sunglasses, or makeup using AR through their device camera. Snapchat (SNAP) has been part of this AR market through its popular Lenses feature.
Facebook stock reaches an all-time high
Facebook has been trying to improve ads across all of its platforms lately. In June, the company made shopping tags available for certain brands in Instagram Stories and plans to roll the feature out to all brands that have enabled shopping on the photo-sharing platform by the holiday season.
Facebook stock has risen 16.5% year-to-date and is currently trading at $205.06, an all-time high, as analysts expect the company’s ad revenue to continue growing. Facebook has been taking steps to monetize its platforms.