Walmart says it has stopped advertising on Elon Musk's X platform
CBSN
Walmart said Friday that it is scaling back its advertising on X, the social media company formerly known as Twitter, because "we've found some other platforms better for reaching our customers."
Walmart's decision has been in the works for a while, according to a person familiar with the move. Yet it comes as X faces an advertiser exodus following billionaire owner Elon Musk's support for an antisemitic post on the platform.
The retailer spends about $2.7 billion on advertising each year, according to MarketingDive. In an email to CBS MoneyWatch, X's head of operations, Joe Benarroch, said Walmart still has a large presence on X.
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