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Not great news just ahead of an IPO: GM plans to stop advertising on Facebook (FB), say sources,...

Not great news just ahead of an IPO: GM plans to stop advertising on Facebook (FB), say sources, after the auto company determined their paid ads had little impact on consumers. GM currently spends about $40M on its Facebook presence, about $10M of that paid to the social networking site for advertising.
Comments (10)
  • Hitesh Patel
    , contributor
    Comments (314) | Send Message
     
    That's a great start. I live all the spin on the ipo from all the media cheerleaders.

     

    I have done my own research. I have asked over 200 individuals how many ties they have clicked on a FB advertisement....the answer....1. The follow up question...How long did you view the ad?....2-3 seconds
    15 May 2012, 03:41 PM Reply Like
  • Omark
    , contributor
    Comments (39) | Send Message
     
    I agree with GM .. its a waste of 40M they could better use elsewhere.
    15 May 2012, 04:03 PM Reply Like
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    I agree....BUT...Facebook will sell and the Owners will make money so will the stockbrokers who hype it...and in 3 years it will be gone...its a hype play....its a bigger toy than apple...
    15 May 2012, 04:57 PM Reply Like
  • Dave Dunbar
    , contributor
    Comments (50) | Send Message
     
    I remember when AOL's future was considered so huge that it bought Time-Warner, and then the bubble burst. Ted Turner is still wondering how he could have been foolish enough to lose billions on that deal.
    15 May 2012, 05:21 PM Reply Like
  • medzjohn
    , contributor
    Comments (244) | Send Message
     
    GM gets credit for warning the emporer has no clothes before the IPO is unleashed.
    15 May 2012, 05:28 PM Reply Like
  • Hendershott
    , contributor
    Comments (1543) | Send Message
     
    Yeah. This whole internet thing is just a fad. I mean, how often do you click on ads in Google, or Yahoo or.....AOL?
    15 May 2012, 05:43 PM Reply Like
  • Stoploss
    , contributor
    Comments (1727) | Send Message
     
    Paid 1B for a company with a free app. Check.
    Ad rev's slightly overstated pre IPO. Check.
    Co-founder, what co-founder? Check.
    Largest IPO in history, blah, blah, blah. Check.
    GM pulls ad revs pre IPO. Check.
    Future ad rev's come from the
    ad rev dispersion mechanism, DUH. Check.

     

    Good to go, let er rip.
    15 May 2012, 06:11 PM Reply Like
  • vancity
    , contributor
    Comments (12) | Send Message
     
    should hire Chryslers ad manager, those are good commercials.
    15 May 2012, 06:34 PM Reply Like
  • ellen_bohlke
    , contributor
    Comments (4) | Send Message
     
    I click on ads on Google all the time because they are so targeted to what I am searching for. When I go on Facebook, I am not searching for a product or service. Thus, I don't pay attention to the ads. GM's decision makes perfect sense.
    16 May 2012, 01:26 AM Reply Like
  • twaddle
    , contributor
    Comments (5) | Send Message
     
    I am so not surprised by GM pulling out from fb ads. Since 2006, I have never clicked on an ad on fb. In fact, I do my best not to pay them any attention. I'm not on fb to buy stuff, but to stay in contact with my friends.

     

    Now I wonder what future fb? Sure it has millions of users, but the systems that supports their activities must cost a lot of dosh to keep them all happy. Where is that dosh going to come from in the future if more advertisers close their wallets on fb? Worrisome.
    16 May 2012, 03:42 AM Reply Like
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