Report: Facebook launching mobile ad network

Facebook will unveil a mobile ad network later this month, according to a report from Re/code.

The mobile ad network will allow Facebook to use the information it has about its users to sell targeted advertisements that will reach users even when they're using apps other than Facebook's.

"This shouldn’t be a shocker. People inside and outside of Facebook have wanted the company to build an ad network for years," the report said, pointing to the company's previous experiments in the mobile ad space.

According to Re/code, more than half of Facebook's ad revenue came from mobile ads in the last quarter of 2013.

A large part of that is advertisements that direct users to install another app or interact with an app they've already downloaded, the report said.

By launching a mobile ad network, Facebook will compete with Google's mobile ad network, Twitter's efforts in mobile ad space and other players.