Facebook loses $10 million in annual ad revenue from GM

Josh Peterson Contributor

General Motors has announced that it would be pulling its paid advertising from Facebook, saying that it had too little impact. The announcement could not come at a worse time for the social media giant, which is expected to file its initial public offering on Friday.

The newspaper reported that GM spends $40 million annually to maintain a presence on Facebook, with a quarter of that in paid advertising.

Full Story: General Motors pulls annual $10 million worth of ads from Facebook