Facebook Advertisers Boost Spending 10-Fold, COO Says

Facebook Inc.’s biggest advertisers have boosted spending by at least 10-fold in the past year as the social network crossed the half-billion user mark, becoming more alluring to marketers that want to reach a broad online audience.

Some advertisers have increased spending by as much as 20-fold or more, Facebook Chief Operating Officer Sheryl Sandberg said in an interview. The site’s ad prices have held steady even as user growth fueled a surge in inventory, or pages that can carry ads, she said.