Tumblr rolls out mobile ads in bid to make $100 million in 2013

In its latest effort to generate revenue, Tumblr, one of the most popular social networks among teens and young adults, is selling ads and displaying them on its mobile apps.

Much like Facebook and Twitter, Tumblr said it will now show its mobile users “sponsored posts” on its Dashboard news feed. The sponsored posts are blogs that companies have paid to show up in between content posted by Tumblr bloggers.

The company told Forbes in January that it was hoping to boost its revenue from $13 million last year to $100 million in 2013. Despite launching in 2007, Tumblr has only recently become popular among the general public.

Tumblr added ads to its desktop website almost a year ago, and last month, the company told Bloomberg it was charging just under $100,000 for ads on its social network.

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To kick off mobile ads, Tumblr has partnered with GE, Pepsi, Warner Bros. and ABC Entertainment and ABC Family.

“The content our brand partners have created is more than just advertising -- it is thoughtful, beautiful, and diverse content that fits seamlessly alongside the best work on our network,” Tumblr founder and Chief Executive David Karp said in a statement Monday.

The company said it will roll out ads to users during a beta period between now and the end of May. Tumblr said users will see up to four sponsored posts per day.

Among those ads will be blogs showcasing upcoming films “The Great Gatsby” and “The Hangover Part III.

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