June 30, 2020: The #STopHateforProfit campaign against the tech giant Facebook grows stronger as more than 200 companies boycott using the social media ad. The campaign started by the civil rights in early July is now taking its phase as the million-dollar companies backed them with stop use of social media for advertisement.

The post from President Donald Trump that said looting would lead to shooting amid nationwide protests against police brutality and discrimination. Lead to the raise of the campaign and, now the big brands like BestBuy, Adidas, Clorox, Pepsi, Starbucks also joined and stopped using Instagram and Facebook till July 30th, and look for the changes Facebook will adopt to avoid the situation.

Facebook addressed the issue and explained how they spend millions of dollars to secure the users and stop these types of hate speech on the platform. They also said before the content going viral they would take immediate action and stop the promotion. The tech giant also said they would come up with tags for various categories of content published online and would address to overcome the hate speech. They also said they are open to working with the Civil Rights Group to stop the hate speech on the platform.

The stock of Facebook was up by 4% last Monday. But, it was down by 8% end of the week and, this week it started with a drop of 4% in the stock value. This campaign has to lead the companies to stop advertising on other social media platforms like Twitter, Instagram, etc.

The tech giant has to address the issue in a better way to stop this campaign as the support from big brands has hit the company badly. There are other small and medium-sized companies supported the campaign and stopped the use of Social Media for advertisement.