Facebook Now Has 1 Million Active Advertisers

Facebook now has more than 1 million businesses actively advertising on the social network, the company announced Tuesday.

The "vast majority" of those advertisers are small businesses, according to Dan Levy, Facebook's director of small business, who announced the milestone during an event at Facebook's office in New York.

"The feedback we hear from businesses from all over the world is, 'Just make it simpler,'" Levy said at one point during the event. Perhaps with that in mind, Facebook announced plans to slash the number of ad products in half in order to streamline and improve the experience for advertisers