As expected, Facebook (NASDAQ:FB) is using a New York conference to announce it will begin...

As expected, Facebook (NASDAQ:FB) is using a New York conference to announce it will begin selling mobile ads, though the company's initial efforts will be limited to Premium ads. Facebook is also announcing a "Reach Generator" that will turn "stories" published by companies into homepage ads, and a product called Offers, which gives businesses a means to share discounts and promotions (potentially indirect competition for GRPN).