Pepsi is yet to formally respond but it's the latest of several companies pulling advertising dollars from the social media giant.
"There is no place for racism in the world and there is no place for racism on social media".
Still, while Facebook has largely avoided explicit Twitter-style hounding of "wrong" political opinions so far, the social-media platform has been frequently accused of censorship.
Speaking to Reuters, James Steyer, CEO of the San Francisco-based non-profit, said "the next frontier" following the successful lobbying of corporations in the U.S. is "global pressure", with major European and Asian companies including Unilever and Honda to be pressed to freeze their Facebook ads globally, not just those running in the US.
It is unlikely that a company that rewrote its content moderation policies to profit from Trump's vitriol grew a conscience over three weeks. The US media landscape has been deluged by a wave of calls for advertiser boycotts that came in the wake of the ongoing Black Lives Matter protests. "Let's send Facebook a powerful message: Your profits will never be worth promoting hate, bigotry, racism, antisemitism and violence", the campaign website said.
Verizon, telecommunications company, spends Rs3.85 billion ($22.9 million) on social media ads.
Shares of Facebook and Twitter plunged on Friday after consumer goods giant Unilever said it would pull advertisements from the social media platforms in the USA for at least the rest of the year. The retailer will continue posting unpaid content on Facebook, which it said is its second-largest paid advertising platform.
On Friday, Zuckerberg said Facebook would now label all voting-related posts and expanded its definition of prohibited hate speech, adding a clause saying no advertising would be accepted if it attacks another demographic, labeling such content as "dangerous".
"There are no exceptions for politicians in any of the policies I'm announcing here today", he said.
Zuckerberg's announcements, however, did not halt companies' demands for change. Brands like Unilever and Ben & Jerry's had also said they would pull back from advertising on Facebook. A global campaign would make a dent in Facebook's revenue stream, while the publicity already sent Facebook's stock down 8.3% on Friday, wiping out $56B in market capitalization.
But why exactly is everyone boycotting Facebook? Jessica Gonzalez, co-chief executive of Free Press, said she has contacted major US telecommunications and media companies to ask them to join the campaign. "Even if a politician or government official says it, if we determine that content may lead to violence or deprive people of their right to vote, we will take that content down".