Facebook has taken a couple years off from having its f8 developers conference, but it’s back, and it’s happening next week. Rumor has it that the company will announce a new mobile ad network, as many have expected it to launch for years.

Mike Isaac at Re/code is reporting the rumor, citing “multiple sources familiar with the matter”. We’ll find out for sure on April 30th.

Obviously Facebook is not commenting. Isaac writes:

Facebook will pitch the ads to publishers and developers as a way to leverage the social network’s vast database of user information for better ad targeting. And Facebook wins by expanding its ad reach — now it can make money from its billion-plus users even when they’re not on Facebook’s own properties.

If true, this will put Facebook in direct competition with Google’s AdMob, Twitter’s MoPub, and various other mobile ad networks.

Facebook already lets advertisers create “lookalike audiences” based on people who visit their sties and mobile apps (or connect with their Facebook pages).

Facebook is gaining significant market share in mobile ad spend, increasing from 5.4% in 2012 to 17.5% last year, according to eMarketer, which expects it to rise this year to 21.7%.

Facebook said last week that it has booked Diplo to play a set at f8. El Ten Eleven will open.

The company will report its earnings for the first quarter on Wednesday.

Image via Facebook