Facebook unveils ad platform.

After Myspace’s new advertising system a week ago, no it’s MS and Facebook on the wagon.

Facebook Inc. today announced plans for its own new advertising system aimed at allowing businesses to target advertising to users of the popular social networking site

More than 60 companies, have already signed up to use the new Facebook advertising system. Facebook ads have three parts, the company announced at an event in New York. The first will allow businesses to build pages on Facebook to connect with the consumers they are targeting. The second will include a system that supports the spread of marketing messages virally through Facebook Social Ads. Finally, the system will allow the businesses to gather insights into users' activity on Facebook, according to Mark Zuckerberg, founder and CEO of Facebook.

More than 100,000 new Facebook pages will be launched Tuesday by various advertisers, he added. On these pages, businesses will be able to add any content they want, including photos, videos and music. In addition, developers have already created a variety of applications for booking reservations or providing restaurant reviews that can be used on the commercial profile pages.

Facebook users will be able to share information about a business directly with the company by adding reviews or other information to that business' page.

Going beyond just profile matching of advertisements, Facebook allows consumers to self-identify with brands and becoming fans. In turn, brands can use these 'Fan-Sumers' as endorsers to their own trusted networks, resulting in trusted word of mouth.

From Internet Marketing and Online Annonsering