• Reuters, Thursday, May 15, 2008 11:45 AM

Google co-founder Sergey Brin said that advertising on social networks like MySpace and Facebook is getting better. "In general, it's been improving but we still have a long way to go," Brin told reporters at a conference in Jerusalem marking Israel's 60th anniversary. "Things have been going well this year...it's hard to predict where social networking will come out." Brin said it would take time to develop the right formula for advertising on social networks. "People are expecting overnight to wake up to a miracle... but these things take time," he said.

In January Google CEO Eric Schmidt said the company was having trouble monetizing social networks, particularly MySpace, with which Google has a multi-year search partnership.

Separately, Brin said he was "very happy" with Yahoo's two-week test of Google's advertising program earlier this month, but he had nothing to say about a further partnership between the companies.

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