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Facebook made its play to rival YouTube's video ad business on Wednesday, unveiling a plan to monetize videos and share the revenue with creators.
Menlo Park, Calif.-based Facebook will launch a new Suggested Videos product, which will curate content from a select group of early partners including the NBA, Hearst, Tastemade, Fox Sports and Funny or Die. The product, launched on iPhone, is geared toward a mobile audience, though Facebook will roll it out on other devices.