With 3 million active advertisers and more than 1 billion daily active users, Facebook is becoming a crowded space.

Its new ad pitch comes at a time when publishers on Facebook have seen their reach via their Pages decline, especially over the last 18 months. Some publishers understood that, and so does Facebook.

“With Facebook, you don’t really own the space. You rent. You’re at the mercy of the changes, the algorithm,” Suter said.

One of the biggest changes Facebook made is introducing dynamic ads, which allows retailers to upload product catalogs to the site, which are then tailored based on a user’s site visits. That offering has worked well for retailers and also travel industry clients. For instance, Fetch used dynamic ads on Facebook to drive app installs to Travelocity’s app.

They’re not after any particular industry. “I want the dollars that are going to work. The best way to grow our business for a good long time is to make sure that if they do spend money for us, it’s a good experience for them,” Bosworth said.

Same goes for the user. Facebook users can also better control the type of ads that they see. Over the last year, Facebook has been in a battle with the ad blockers. While improving the tech to eliminate the functionality of the ad blockers, Facebook is also pushing its newly-released ad preferences as its answer.

“I don’t see any way to get there if we don’t give people a voice in terms of how they want to be communicated with,” Bosworth said.

The “ad preferences” page lets users see their interest Facebook identified which advertisers can then target their ads around. Users can actively choose to hide any of these categories, which include political leanings.

What’s next

Facebook has developed itself into an advertising giant, competing with Google for digital dollars and aiming to take a cut from TV budgets. That’s how the technology company, for the most part, justifies its $370 billion market capitalization, pays it’s nearly 15,000 employees and funds new ventures.

Now, Facebook is financed primarily from mobile devices, and they aren’t done with harnessing that power, according to Bosworth.

“I think we’ll expect to see a much larger activity for local businesses. The mobile phone is nothing if not a portable device that we can take with us anywhere. I don’t think anyone’s takes full advantage of that and I think Facebook is well poised,” Bosworth said.