Big Media Just Wants to Relate

Social-networking sites are so popular that advertising companies are spending big bucks to buy their way into the business

Last month, advertising giant Interpublic Group caused a stir when it agreed to spend at least $10 million on advertising at Facebook, the wildly popular Web site for college students and others. The deal was accompanied by a separate agreement in which IPG acquired 0.5% of privately held Facebook. The Web site was launched two years ago by Mark Zuckerberg, who was a sophomore at Harvard University at the time (see BusinessWeek.com, 3/28/06, "Facebook's on the Block").

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