Dive Brief: 

• The F8 developer conference in San Francisco on Wednesday saw the official announcement of the  Facebook Audience Network, the social giant's long-awaited mobile ad network. 
• Advertisers will be able to use the typical Facebook ad targeting options, but can also take advantage of Custom Audiences, an ad product that lets advertisers target users who have visited the advertiser's website. 
• Publishers will be able to customize ads to feel more native and fit with the look and style of the app, meaning advertisers have the opportunity to buy native ads. 

Dive Insight: 

Speculation about Facebook building a mobile ad network has been going on for some time now. It's exciting to see it finally come to fruition. What this means for the mobile ad industry as a whole is yet to be seen, as FAN is still in beta. Because of Facebook's sheer size and backlog of data, FAN could be a serious threat to other mobile ad networks.