Facebook announced last week it generated $1.8 billion in mobile advertising revenue in the third quarter of 2014, which accounted for nearly 66 percent of Facebook's total advertising revenue of ($2.96 billion). In the previous quarter, Facebook's mobile advertising revenue was $1.66 billion, or 62 percent of Facebook's total advertising revenue.
Startups Building Tools To Support Facebook AdsThe increase in Facebook's mobile advertising revenue has attracted app and game developers who want to buy ads on Facebook. To decrease the cost and time of buying such ads, Red Hot Labs launched its Toro tool today. Toro is a web tool that allows developers to set their ad-buying budget, determine an ad campaign based on the budget, and track the ad campaign via a dashboard. Red Hot Labs is a group of app and game developers focused on creating apps and other tools to assist other developers. Toro is Red Hot Labs' recent tool, which simplifies the process of marketing apps and games on Facebook.
- Founded: 2012
- Location: San Francisco, CA
- Funding: $1.5M Seed in February 2013
- Investors: Andreessen Horowitz; SV Angel; General Catalyst Partners; Greylock Partners