Here's a list of companies that are planning to halt spending on social media. Some have joined a boycott of Facebook after critics accused the social network of inadequately policing hateful and misleading content on its platform. To view the next image, click on the arrows or just swipe.
Shares of the social media company fell 8.3 per cent on Friday, the most in three months, after Unilever, one of the world’s largest advertisers, joined other brands in boycotting ads on the social network.
Unilever has an annual advertising budget of almost $8 billion (Dh29.38bn).
Companies from Verizon Communications to Hershey have also stopped social media ads after critics said that Facebook has failed to sufficiently police hate speech and disinformation on the platform. Coca-Cola said it would pause all paid advertising on all social media platforms for at least 30 days.
The stance has eliminated $56bn from the company’s market value and pushed Mark Zuckerberg’s net worth down to $82.3bn, according to the Bloomberg Billionaires Index.
Facebook boycotters at a glance
Adidas
Chipotle Mexican Grill
Clorox
Coca-Cola
Conagra Brands
Diageo
Diamond Foundry
Eileen Fisher
Ford Motor Company
Hershey
Honda Motor Company
Levi Strauss
Madewell
Microsoft
Patagonia
PepsiCo
Pfizer
Puma
REI
SAP
Starbucks
The North Face
Unilever
Upwork
Verizon Communications
Viber Media