NEW YORK( TheStreet) -- Facebook ( FB) wants a larger mobile footprint. And on Wednesday it unveiled the tools to make its mark.
The world's largest social network launched new mobile and privacy tools Wednesday to enable users to better parse which information they share with whom and help expand mobile engagement. It also unveiled an Audience Network to help application developers make money off of mobile apps.
Investors on StockTwits.com celebrated the changes, announced at Facebook's F8 developer conference this afternoon.
Facebook also launched a mobile 'like' button to enable users to share apps, articles and other media with their Facebook contacts while on their phone. And it gave users tools to share information with smaller groups of people via a message dialog feature.
Facebook also made it easier for application developers to target ads on their apps via its Audience Network suite of mobile tools. Investors said that the tools would make application developers concentrate on building software that integrates with Facebook, helping increase Facebook's features and relevance with users.
$FB With announced dev tools I don't know why you'd develop using a different tool. Cross platform, remove the middle man. Huge audience.
? Jason (@NewToTheGame_SF) Apr. 30 at 02:04 PM Mobile features are particularly important given Facebook's growth trajectory. More than a billion people login to Facebook via mobile devices each month. Mobile daily active users grew 43% in the first three months of the year to 609 million, according to Facebook's most recent quarterly filing. Daily active users, for comparison's sake, jumped a smaller 21% albeit off of a larger base. Mobile now accounts for about 59% of the company's advertising revenue.
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At the time of publication the author held no positions in any of the stocks mentioned.
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