Washington: PepsiCo Inc (PEP.O) will stop advertising on Facebook Inc (FB.O), FOX Business Network reported here on Sunday, citing sources.
The halt on advertising will run through July and August, the report said. Sources described the move as a global boycott on placing Facebook ads, the report said. PepsiCo did not immediately respond to a request for comment from Reuters.
The food and beverage company joins a growing number of companies pulling ad dollars from Facebook, including ice-cream maker Ben & Jerry’s and Unilever PLC (ULVR.L).
Starbucks said that it believes in bringing communities together, both in person and online, and stand against hate speech.
We believe more must be done to create welcoming and inclusive online communities, and we believe both business leaders and policy makers need to come together to affect real change, the company said in a statement on Sunday.
We will pause advertising on all social media platforms while we continue discussions internally, with our media partners and with civil rights organizations in the effort to stop the spread of hate speech, it added.