Note: A previous version of this story included incorrect information. We regret the error.

Facebook is planning to introduce real-time bidding, a technology Google has employed for years that lets advertisers target users based on their browsing history.

The service, called Facebook Exchange, is expected to go live in a few weeks. Facebook is working with eight firms — Turn, TellApart, MediaMath, DataXu, AdRoll, Triggit and The Trade Desk — on the program. Facebook has recently begun employing cookies to track users via their browsers. The third parties will match those cookies with information from other sites. For example, if a user has searched "SUV," and goes on Facebook, auto advertisers will be able to serve that person ads on Facebook for SUVs.

DoubleClick, which Google bought in 2008, began employing real-time bidding in 2009 via its DoubleClick Ad Exchange. According to a Google white paper on the topic, real-time bidding increased click through rates from 0.09% to 0.15%.