• Market Crumbs

Unilever To Resume Ads On Facebook

Image via Unilever

Earlier this year Facebook got caught up in an ad boycott after the Stop Hate for Profit campaign attacked the social media giant for its handling of racism, disinformation and hate on its platform. The campaign wants social media companies to be held accountable for hate on their platforms and prioritize people over profit.

The campaign attracted more than 1,200 businesses and non-profits to join the boycott, including notable companies such as Ben & Jerry's, Patagonia, The North Face, Eddie Bauer, REI and Upwork.

On June 26 Unilever announced it would stop advertising on Facebook, Instagram and Twitter in the U.S. for the rest of the year as a result of the "polarized atmosphere," adding that "continuing to advertise on these platforms at this time would not add value to people and society."

With shares of Facebook down 7% on the news, Facebook CEO Mark Zuckerberg almost immediately responded with a post about the new policies Facebook would implement in response to the growing boycott.

"I'm committed to making sure Facebook remains a place where people can use their voice to discuss important issues, because I believe we can make more progress when we hear each other," Zuckerberg wrote. "But I also stand against hate, or anything that incites violence or suppresses voting, and we're committed to removing that no matter where it comes from."

As the year comes to an end, Unilever announced it will resume advertising on Facebook just six months after announcing it would suspend advertising. Unilever noted it did not sign on to the Stop Hate for Profit campaign but nonetheless announced its decision to pull ads at the same time.

"As we approach the end of our planned pause period, we have been encouraged by the platforms' new commitments and reporting to monitor progress," Unilever said. "We therefore plan to end our pause in the US starting in January."

Unilever joins companies such as The North Face, Heineken and The Coca-Cola Company in returning to Facebook.

While the campaign pushed Facebook to make changes, it doesn't seem to have had much of an impact on the company's performance as Facebook said revenue for the first three weeks of July grew at approximately the same 10% annual rate as it did in the second quarter.

As for the Stop Hate for Profit campaign, their website has only been updated twice since the end of July. A post following July's ad pause campaign shows the group is still not satisfied though.

"This movement will not go away until Facebook makes the reasonable changes that society wants," the post reads. "The ad pause in July was not a full campaign – it was a warning shot across Facebook's bow."

Leftover Crumbs

  • Apple store closures mount. Apple announced it will temporarily close all 53 of its retail stores in California as the state continues to see a record number of COVID-19 cases. Apple has now closed nearly 100 retail stores, or almost 20% of its total worldwide, following recent store closures in other countries such as Mexico, Brazil, the Netherlands, Germany and the U.K. "Due to current Covid-19 conditions in some of the communities we serve, we are temporarily closing stores in these areas," Apple told Bloomberg.

  • Hot Wheels' Tesla Cybertruck hit with delay. The release of Hot Wheels' remote-controlled Tesla Cybertruck has been delayed due to production issues as Mattel says it now aims to deliver the toys by May 1. "Due to an isolated production issue, we are experiencing delays in the shipment of our Hot Wheels R/C Cybertrucks," a Mattel spokesperson told The Post. "We have directly reached out to all customers who have placed orders for this specialty collector's item, as we know our fans are excited."

  • Bumble files for IPO. Bumble, the popular dating app that lets only female users make the first contact with matched male users, has reportedly confidentially submitted a draft registration statement on Form S-1 with the U.S. Securities and Exchange Commission. Bumble, which is reportedly seeking a valuation of between $6 billion and $8 billion, could ironically seek to go public around Valentine's Day in February. Bumble has since expanded beyond dating to help users find friends and expand their professional networks.

  • Uber to kill 1-833-USE-UBER. Uber is set to kill its 1-833-USE-UBER ordering option on January 1 after the program failed to gain traction. Uber rolled out the service earlier this year in New York and Florida so older citizens who aren't as tech savvy could call the hotline to place orders. "After thoughtful consideration, we’ve made the decision to stop the 1-833-USE-UBER pilot program we launched earlier this year starting January 1," an Uber spokesperson said.

  • Would you eat it? McDonald's is set to release a Spam burger topped with Oreo crumbles in China today for a limited time, according to a post on Chinese social media platform Weibo. McDonald's will produce 400,000 spam burgers as part of the promotion.