General Motors Pulls Annual $10 Million Worth of Ads from Facebook – Ars Technica

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.

I wouldn’t be at all surprised to see more companies doing this.