Facebook (FB) - Get Report CEO Mark Zuckerberg told employees in a recent employee-only town hall meeting that he was reluctant to change the company's policies and expects advertisers that have joined a boycott of the social media giant "will be back on the platform soon enough.”
Zuckerberg gave his thoughts on the boycott, which now includes brands such as Starbucks (SBUX) - Get Report and Coca-Cola (KO) - Get Report, during the meeting last Friday, according to employees who attended, The Information reported.
"We're not gonna change our policies or approach anything because of a threat to a small percent of our revenue, or to any percent of our revenue," Zuckerberg said.
"My guess is that all these advertisers will be back soon enough," Zuckerberg added.
The Facebook CEO said at the meeting that the boycott was more of a “reputational and a partner issue” than an economic one, according to The Information.
A recent report from CNN found that most of the 100 biggest ad spenders on the platform haven't joined the boycott, which was started by civil rights groups last month. They have called for major companies to stop ad spending on Facebook until the company stops allowing hate speech on the platform.
"The campaign is a response to Facebook’s long history of allowing racist, violent and verifiably false content to run rampant on its platform. The campaign will organize corporate and public pressure to demand Facebook stop generating ad revenue from hateful content," wrote the Anti Defamation League, one of the organizers of the ad boycott, Stop Hate for Profit.
Facebook shares rose 0.69% in premarket trading Thursday to $239.18.