Facebook is reportedly planning to enter the mobile advertising market next year.
Two people with the knowledge of the company's plans told Business Week that Facebook will be entering the mobile ad market by the end of March 2012.
The sources also said the company was planning to enter the mobile ad space this year but the plans got delayed.
According to the sources, the company is planning to display sponsored ads to mobile user news feeds. These 'Sponsored Stories' ads demonstrate user's friends interactions with a particular brand.
A share in the mobile ad space will help Facebook launch its initial public offering next year, something which is highly awaited by the Wall Street.
The report comes as a market study had informed that Google and Millenium Media are eating into Apple's share in the mobile ad market. Facebook, which has more than 800 million users worldwide, will have to compete Google, Millennium Media and Apple for mobile ad market space.
Google, which dominates online display ads and search engine ads, has a massive lead over Apple and Facebook in the mobile ad market.