Facebook buys ad software maker ad-free service, ad platform,for $3 billion

Business Insider UK (US) article Facebook is acquiring AdMob for $3.2 billion, according to the Wall Street Journal, the company confirmed to CNBC.

The acquisition will allow Facebook to become one of the largest publishers of free ads, a major revenue stream for the social network.

Facebook previously said it was looking for new ways to drive engagement and organic traffic to its services.

AdMob was founded in 2008 by a team of software engineers that had a vision to create an ad-supported, ad-based business.

The company’s ad revenue is now worth about $1.4 billion a year, according Facebook.

Facebook also announced a partnership with YouTube to help create a video-based video platform.

AdMoz is owned by a consortium of media companies including The Associated Press, USA Today, NBC News, CNN, CNNMoney, The Huffington Post and others.

It also owns a mobile ad platform.