Free Trial

Starbucks latest to say it will pause social media ads

Starbucks is the latest company to say it will pause social media ads after a campaign led by civil rights organizations called for an ad boycott of Facebook, saying it doesn't do enough to stop racist and violent content.

Starbucks said Sunday that its actions were not part of the “#StopHateforProfit” campaign, but that it is pausing its social ads while talking with civil rights organizations and its media partners about how to stop hate speech online.

The coffee chain's announcement follows statements from Unilever, the European consumer-goods giant behind Ben & Jerry's ice cream and Dove soap; Coca-Cola; cellphone company Verizon and outdoors companies like Patagonia, Eddie Bauer and REI; film company Magnolia Pictures; jeans maker Levi's and dozens of smaller companies. Some of the companies will pause ads just on Facebook, while others will refrain from advertising more broadly on social media.

In response to companies halting advertising, Facebook executive Carolyn Everson said earlier this week the social networking platform is committed to purging hateful content from its services.

“Our conversations with marketers and civil rights organizations are about how, together, we can be a force for good,” said Everson, vice president of Facebook’s global business group.

Facebook's market value dropped Friday by more than 8%, or about $50 billion, as more companies said they would pause ads. Twitter stock also dropped more than 7% Friday.

Sarah Personette, vice president of global client solutions at Twitter, said Friday the company’s “mission is to serve the public conversation and ensure Twitter is a place where people can make human connections, seek and receive authentic and credible information, and express themselves freely and safely.”

She added that Twitter is “respectful of our partners’ decisions and will continue to work and communicate closely with them during this time.”

__

This story has been updated to correct the date of Twitter's statement. It was sent Friday, not Thursday.

Where Should You Invest $1,000 Right Now?

Before you make your next trade, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.

Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.

They believe these five stocks are the five best companies for investors to buy now...

See The Five Stocks Here

20 Stocks to Sell Now Cover

Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.

Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

The Next NVIDIA? Quantum Computing Stocks Set for Explosive Growth
5 Stocks to BUY NOW in July 2025
3 Defense Stocks Under $10 With Massive Upside

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines