Via WSJ: General Motors’ marketing executives have decided to pull the company’s $10 million in paid Facebook after deeming the efforts had “little impact” in reaching consumers. The announcement comes three days before Facebook’s initial public offering. The company will continue to use the Facebook platform to promote its brands, operating on a $30 million budget that covers content creation and management. GM, the third largest advertiser in the U.S. behind Procter & Gamble and AT&T, spent $1.83 billion on U.S. advertisements in 2011. Though GM’s decision may be immaterial to Facebook’s $3.7 billion revenue figure, the announcement comes as Facebook executives attempt to assure investors that its advertising business is solid enough to merit the company’s near-certain $100 billion valuation.
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