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Top Companies Boycott Facebook Ads Results In Mark Zuckerberg Losing $56 billion
By: Tupaki Desk | 27 Jun 2020 11:10 AM GMT
The bold move to boycott advertisements on Facebook and Instagram is gaining momentum with 120 top companies and brands opting to halt the advertising process and putting an end to put ads on the social networking service.
The move was put forth by the Anti-Defamation League, The National Association for the Advancement of Colored People(NAACP), and other organizations against the misinformation.
The hashtag, #stophateforprofitcampaign is supported by around 120 companies which resulted in Facebook shares plunging by 8.3%.This values for around $56 billion in market value
The movement started with Facebook refused to remove a post made by Donald Trump on George Floyd's issues which triggered the anti-racism protests and campaigns in the US and other nations too.
Unilever, which is one of the largest advertisers in the world, announced it will not spend money on Facebook's properties for this financial year. Coca-Cola too joined the list and said the company will hat posting ads on Facebook for 30 days.
On the other hand, Facebook has been trying to ask the companies to push the ads back on the networks and said that the company will put a link to the voting hub on all posts related to voting, and will also start marking posts that violate Facebook's rules
The move was put forth by the Anti-Defamation League, The National Association for the Advancement of Colored People(NAACP), and other organizations against the misinformation.
The hashtag, #stophateforprofitcampaign is supported by around 120 companies which resulted in Facebook shares plunging by 8.3%.This values for around $56 billion in market value
The movement started with Facebook refused to remove a post made by Donald Trump on George Floyd's issues which triggered the anti-racism protests and campaigns in the US and other nations too.
Unilever, which is one of the largest advertisers in the world, announced it will not spend money on Facebook's properties for this financial year. Coca-Cola too joined the list and said the company will hat posting ads on Facebook for 30 days.
On the other hand, Facebook has been trying to ask the companies to push the ads back on the networks and said that the company will put a link to the voting hub on all posts related to voting, and will also start marking posts that violate Facebook's rules
