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Facebook advertisers boost spending ten-fold

Big brands no longer see social network as a place to experiment.

Facebook's biggest advertisers have boosted spending by at least ten-fold in the past year, chief operating officer Sheryl Sandberg said in an interview to Businessweek on Wednesday.

Some advertisers have increased spending by as much as 20-fold or more, she added.

Two years ago, the big brands were experimenting with the site. "They started buying with us a year ago. Now, they're going big," she said.
Sandberg did not disclose the names of its largest advertisers but the big names reportedly include Adidas and JP Morgan Chase.

The site's ad prices have remained steady despite a significant growth in the number of ad pages and an increase in the number of users, Sandberg said.

The social network crossed the half billion user milestone in July.