really made a turnaround in perception in last two years when the company showed the Street how successful it can be with mobile advertising. Heather Bellini, partner and managing director at Goldman Sachs, was on Bloomberg Friday to discuss Facebook's successful foray in mobile advertising and the competition it faces from other social networking platform. Advertisers' Favourite "Facebook found an ad unit that advertisers have really embraced," Bellini said. "Which is having an ad in your mobile newsfeed and so people have shifted their time from desktop on Facebook to mobile and as they have done that advertisers have found a lot of efficacy in placing those ads in the newsfeed that are less obtrusive than maybe if you were on Facebook, when it was primarily a desktop product and they were on the right hand side of the page." Don't Underestimate Facebook When being asked how much of a challenge to companies like SnapChat pose to Facebook, Bellini replied, "In terms of things like Snapchat and again it's not a company that we cover obviously, they are private. But if you look at the competitive threats to Facebook, I think one of the bigger things to look at is that TV dollars are starting to shift, from TV or digital budgets are getting bigger and that benefits a lot of these players. It benefits people like Google, it benefits people like Facebook, it benefits all these upstart, right?" She continued, "So the pie is growing so I think it's a positive for all of them. Facebook does have to worry and it [has to keep evading], but I think Mark Zuckerberg has, look 2 years ago, 3 years ago, the press was all over him for paying what he paid for Instagram and that looks like its been an amazing acquisition and so I think you can't underestimate how much time they are spending on this very thing." Bellini also remarked that "Facebook is one of our top companies, as well as Autodesk, Inc.ADSK
and salesforce.com, inc.CRM
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.