Wednesday, 1 July 2020

Facebook Ads Boycott Leads Big Loss to Zuckerberg

Zuckerberg loses $7 billion in one day as companies boycott Facebook Ads

Facebook CEO Mark Zuckerberg loses $7 billion a day after Several Firms pulled advertising from Facebook and Instagram because of the spread of hate speech on these platforms.


                                   

Even Facebook share fells down 8.3 % after Unilever one of the biggest organization company take the decision to pull ads on the platform. Unilever said                               

   "It Would Stop Spending money with Facebook's  properties this year"


That also moved Facebook Chief Executive Officer down to the fourth place of the World's Richest Person List overtaken by Louis Vuitton boss Bernard Arnault on third position people along with Jeff Bezos and Bill Gates.


Companies that Pulls Ads of Facebook


Coca Cola, Hershey's, Verizon, Dove, Lipton, Honda, Ford, Adidas, Clorox, and even 160 more companies participating in this boycott campaign this month.

Even Facebook Ads boycott campaign expand to Europe.

Zuckerberg Statement:-


Mark Simply said, "There are no exceptions for politicians in any of the policies I'm announcing here today".

Boycott Reason:-


This Boycott Comes to form Facebook allegedly allowing "racist, violent, and false content" to run on its platform.


Now Facebook starts testing a dark mode in its mobile apps after Instagram, Messenger, and Whatsapp.





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