The campaign called “Stop hate for profit”, which was born just after the death of African-American George Floyd, has been joined by more than 160 companies seeking to draw attention to the American giant about the insufficiency of its policies to stop hate speech.
Facebook and other social networks are being punished with what hits them the most: their advertising revenue.
Multinationals Ford, Adidas and Hewlett-Packard (HP) joined the boycott started last week by several companies on Monday and reported plans to stop advertising on Facebook and Instagram, considering that a culture of “hate” has taken hold of the debate on these social networks.
Multinationals such as Unilever, Starbucks, Diageo, Coca-Cola and PepsiCo also join this campaign.
“Stop hate for profit”, originated after the death of African-American George Floyd and that in less than two weeks has attracted 160 companies.
In 2019, Facebook received $ 70,697 million in revenue. 98% (69,655 million dollars) corresponded to advertising, according to financial reports presented to its investors.
Now, the multinational Mark Zuckerberg lost at least $ 45 billion of its value on the New York Stock Exchange in just two trading days.
While on Friday it closed with a drop of 8.3%, on Monday it recovered 2.11% on Wall Street, after acknowledging that it still has a long way to go to help combat racism.
Source: France 24, DW, social networks
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