The Metaverse Money Pit: How Meta’s $70 Billion Bet Compares to Tech’s Biggest GamblesView Now

Mark Zuckerberg. Photo by Bloomberg.

Facebook Pulls Plug on Ad Software

Photo: Mark Zuckerberg. Photo by Bloomberg.

Last year, Facebook tested software that would represent a bold expansion of its display ads business beyond its own inventory, a move potentially worth billions in revenue. Using a demand-side platform, or a DSP, marketers would be able to use Facebook users’ identity data to bid on ad slots across the mobile and desktop Internet in real time.

But Facebook recently yanked the bidding software from service because the tests showed that banner ads that were served attracted too many fraudulent impressions by bots trolling the Web, the company confirmed to The Information on Friday.

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The Metaverse Money Pit: How Meta’s $70 Billion Bet Compares to Tech’s Biggest Gambles
Is Meta Platforms’ $70 billion bet on the metaverse shaping up as the biggest money pit ever in tech?