MySpace To Announce Self-Serve Hyper Targeted Advertising Network from TechCrunch reports MySpace is announcing a new ad platform today at adTech. The new ad platform will enable advertisers to target ads to users based on geographic, demographic, and interests. The ad platform seems to be named SelfServe HyperTargeting and will be launched to a "limited set of advertisers," said TechCrunch.

The limited launch is expected to happen within the next sixty-days, while FaceBook also is expected to release an ad network. The ad network should be available to advertisers by early 2008 and will be initially based on CPC but will soon change to an CPC auction model. More coverage of the news can be found at Techmeme.