Social networking giant Facebook has rubbished the rumors about a speculated change in its Behavioral Ad platform, AllFacebook has reported.
An article in the Financial Times initially claimed that the social networking platform was readying a new ad platform, to be revealed during the F8 Facebook developer conference, which would apparently allow Facebook to track the browsing history of its users and bombard them with online ads based on its findings.
Facebook issued a statement saying "The Financial Times incorrectly suggested that Facebook is launching a behavioral ad targeting at f8, our upcoming developer conference. Their story has been corrected."
They further added that "All the products we are launching at f8 are focused on giving developers and entrepreneurs ways to make the web more social."
The Financial Times had claimed that the website, which has more than 400 million users worldwide, had decided to branch out from its current practice of pelting users with targeted ads by drawing information from their profiles, such as location and relationship status.
The newspaper outlet has since changed their story to reflect the updated information from Facebook.