Shares of both Facebook and Twitter down more than 7% in trading Friday after Unilever pulls ads.

[sunonmars]

Link to tweet

Shares of both Facebook and Twitter were down more than 7% in mid-day trading Friday after Unilever said it would pull its advertising from the social media companies for the rest of the year.

"Given our Responsibility Framework and the polarized atmosphere in the U.S., we have decided that starting now through at least the end of the year, we will not run brand advertising in social media newsfeed platforms Facebook, Instagram and Twitter in the U.S.," the company said in a statement. "Continuing to advertise on these platforms at this time would not add value to people and society. We will be monitoring ongoing and will revisit our current position if necessary."
The massive household goods company's decision was driven by concerns over hate speech and divisive content on the platforms, it said. The Wall Street Journal was the first to report the news.

[Doodley]

1. Good!

[TreasonousBastard]

2. That's big! Unilever is a British/Dutch conglomerate with over 400 brands...

(Including Ben&Jerry's, Hellman's, and Lipton)and over 40 billion a year in worldwide sales. It is the world's largest soap maker.

If I were selling advertising, I wouldn't want to lose them.

[Wellstone ruled]

4. This is a major move

by one of the largest Ad buyers in the world. Surprised these stocks are only down 7%,should be 37%.

[orwell]

3. I am all for punishing Zuck...

...who has proven to be a complete RW asshat.

He made a deal with the Devil (Donald) and I hope he pays dearly for it.

Do it the old fashioned way, hit 'em in the pocketbook.

[Ponietz]

5. Remember that creep in high school that spread rumors and instigated fights?

That’s their business model.

[sunonmars]

6. Guess its getting through to them...Facebook just announced

Link to tweet

[farmbo]

7. #DefundFacebook

EOM