IBM has pulled advertisements from X, formerly called Twitter after its ads were placed next to antisemitic content on the social media platform, reports said.
The move comes after X owner Elon Musk supported an antisemitic post on the platform and issued statements.
While talking about the decision, an IBM spokesperson stated that the company has zero tolerance for hate speech and discrimination and that it has immediately suspended all advertising on X while it investigates this entirely unacceptable situation.
Following the news, X CEO Linda Yaccarino in a post said, "X's point of view has always been very clear that discrimination by everyone should STOP across the board ... When it comes to this platform - X has also been extremely clear about our efforts to combat antisemitism and discrimination. There's no place for it anywhere in the world - it's ugly and wrong. Full stop."
A non-profit media watchdog group Media Matters for America very recently published a report stating that it found adverts from major brands such as IBM, Apple, Oracle, and Comcast's Xfinity and Bravo next to posts that tout Adolf Hitler and his Nazi Party on the platform.
Meanwhile, X said it would no longer monetize accounts allegedly posting hateful content, and that the accompanying content would also be labeled not safe for work.
Following Musk's acquisition of the platform in October last year, many major companies had pulled their ad campaigns from the platform. Musk is currently X's largest shareholder, chief technical officer, and executive chairman.
Prior to the acquisition, Twitter had reported a $344 million loss. Earlier in September, Musk said X's advertising revenue was down 60%.
The latest development comes as recently appointed X CEO Yaccarino is working hard towards bringing back sales revenues. Following her appointment in June, Yaccarino started implementing a series of initiatives to lure back lost advertisers.
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