Personalizing ads are becoming the most popular way to advertise, and social media are making it even better. This paper investigates the effectiveness of personalized ad placement on Facebook among millennials in Bangladesh. The study is exploratory and semi-structured interviews were conducted with 33 Bangladeshi millennial consumers (23 to 43 years old) to understand how they evaluate personalized Facebook advertising they receive daily while surfing Facebook. According to the findings, perceived relevance and Facebook use motivation play vital roles in the effectiveness of personalized Facebook advertising. Surprisingly, Bangladeshi millennial respondents do not feel any threat of privacy concerns while using it for personalized ads. The study’s conclusions suggest that the brand's Facebook advertising strategy should consider users' ad relevance and use motivation to improve effectiveness and reduce avoidance of personalized ads on Facebook.