by Christopher Freeburn | October 4, 2013 12:04 pm
Shares of Facebook (FB) surged almost 3% in Friday mid-day trading after its popular photo-sharing service said it would start posting advertisements.
On Friday, Instagram announced that the first commercials on its service will appear over the next several months. Both photo and video ads will make “occasional” appearances at first, to give users time to get used to the idea, the Associated Press notes.
Instagram has about 150 million users. The service has not previously included advertising. Last month, company executives said that Instagram ads would appear within a year.
Reports emerged late last year that Facebook was been looking for ways to raise ad revenue from the popular service.
Facebook acquired Intagram for $715.3 million in 2012.
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