Facebook (News - Alert) has had a bit of a hard run the last few weeks with the failure of the IPO launch and a lawsuit the firm had to settle over the improper use of advertising. Despite those recent setbacks, the company is moving forward with a new idea they believe will be a revenue generator both for themselves and companies that choose to advertise on the social networking site.

The company will be launching a new kind of mobile advertising to target users based on the applications they use.

The social networking giant had previously set a new frontier when it was able to use Facebookconnect to get users to log their activities on all sorts of sites like Amazon, Yelp and LinkedIn (News - Alert). 

Facebook has now come up with a way where they will be able to use these checkins in order to target advertisements to their users. Facebook also apparently intends to track what people do on their apps, but some suggest it flirts with privacy issues, as well as users’ trust in the site itself.

Even without that extra level of tracking, ads are going to stoke privacy fears all on their own. These particular plans would go a step further than tracking what ad sites people click. 

Presumably, people want to be able to browse the Web without having someone watching their every move. When an ad is clicked, it’s a more overt admission that they want people to know they are looking at those ads. 

While other companies track what apps people use, the ads are installed in those apps and are not quite as invasive as what this plan entails.

Facebook is preparing to officially announce these new ads this week and there is some talk that this new advertising approach would go live on July 16, but Facebook is also considering a delay on the launch because of the privacy concerns.

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