Seven big brands have stopped their Twitter ads
The Twitter acquisition was completed in the past weeks. After this development, Musk became the new owner of Twitter, but problems started ever since then.
Elon Musk, the CEO of electric car maker Tesla and space transportation company SpaceX, has come to an end in the $ 44 billion purchase offer made to Twitter in recent months, and the new owner of the company has become Musk. During the events that took a long time and brought the parties to lawsuits, Twitter's stocks depreciated, and many senior executives resigned from their duties in Twitter after Elon Musk took over the management. Musk, who also fired the current CEO Parag Agrawal, turned to deploying new applications and workforce cuts. In this process, some of the world-famous brands began to cut their advertising expenditures on Twitter and to stop their Twitter ads.
Seven big brands have stopped their Twitter ads!
Pharmaceutical company Pfizer and snack manufacturer Mondelēz were among the first to start the trend of world-famous brands stopping their advertising activities on Twitter. These brands were followed by companies such as General Mills, Volkswagen Group, Audi and General Motors. On the other hand, Interpublic Group, which deals with the purchase of advertisements by companies such as Coca Cola and Unilever, also suggested to the brands it works with to stop their advertising activities on Twitter. Brands are withdrawing from Twitter ads due to concerns such as content moderation and bot accounts that delay Twitter's acquisition process.
