Facebook claims it now has over 900 million users worldwide, but all those people don't apparently add up to a huge audience for online ads, at least for one company. The Wall Street Journal reports that car company General Motors has decided it will pull its paid Facebook ad campaign, said to be worth $10 million, off the site after determining that the ads didn't have much of an impact for consumers.
Admittedly, that amount of money is a drop in the bucket compared to Facebook's total yearly revenue of over $3 billion. However, the fact that a major company doesn't believe that paying for ads to reach Facebook's massive user base is worth it could be a sign of things to come for the social networking site, especially as it plans to launch its IPO later this week.
GM will still pay lots of money to use Facebook. The story says the company will pay about $30 million to maintain and add content to GM's Facebook pages, which Facebook doesn't directly charge to use.
In a new survey about Facebook released today, 83 percent of the people who were polled claim to have never or hardly ever clicked on a Facebook ad.