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Facebook now has 5 million active advertisers, up from 4 million in September, the company announced on Monday.
The company has also said the number of businesses with mobile pages has reached 65 million, and 8 million businesses now have profiles on Instagram. As mobile usage continues to increase the shift is essential for the network to remain competitive.
Facebook is also introducing new tools that will help brands target and measure the performance of their ads — an important move in light of recent measurement mishaps.