Abu Dhabi, UAEThursday 2 July 2020

Here is the growing list of companies boycotting Facebook

The world's largest social media platform is accused of being lax on hateful and misleading content

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.

Graphic by The National 
Graphic by The National

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

Updated: June 30, 2020 05:58 PM

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