GM plans to stop advertising on Facebook

(Reuters) - General Motors Co will stop advertising on Facebook, a move that comes during the same week the social networking website is due to go public.

DETROIT/SAN FRANCISCO (Reuters) - General Motors Co said on Tuesday it will stop advertising on Facebook, even as the social networking website prepares to go public, with a source familiar with the matter saying the automaker had decided Facebook's ads had little impact on consumers.

By TechCrunch: By Anthony Ha

General Motors plans to stop advertising on Facebook because it determined paid ads had little impact on consumers, the Wall Street Journal reported Tuesday, citing people familiar with the matter.The news comes at a bad time for Facebook, which is expected to launch an initial public stock offering Friday valuing the social networking site at around $100 billion.GM's pullback comes as other marketers are questioning the value of paid ads on Facebook despite the amount of time huge numbers of consumers spend on the site.

Over time, advertising on Facebook has become more sophisticated, varied, and data-intensive. 

DETROIT/SAN FRANCISCO (Reuters) - General Motors Co said on Tuesday it will stop advertising on Facebook, even as the social networking website prepares to go public.

SAN FRANCISCO (Reuters) - Facebook Inc faces immense pressure to beat Wall Street's financial targets when its delivers its inaugural quarterly earnings report next week, hoping to wash away the bad taste left with investors from a soured IPO. The No. 1 social networking company's second-quarter report on July 26 will be scrutinized by investors looking for clues on the health of its business, which is experiencing a sharp slowdown in revenue growth and mounting questions about its advertising sales. With a rich multiple that gave Facebook the distinction of being the first U.S. ...

General Motors Co will stop advertising on Facebook, a move that comes during the same week the social networking website is due to go public.