from Statista.com
— this post authored by Martin Armstrong
Last week, the head of Google’s EU operations apologized to advertisers in the UK.
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Google apologized for running their YouTube campaigns alongside content which promoted terrorism, touted hate speech or involved generally offensive material. High-value British clients such as Tesco, Marks and Spencer, The Guardian and even the UK government have pulled their ads from the platform until they receive assurance that this will not happen again.
The apology, however, did little to calm the waters. On Wednesday, the crisis spilled over to the United States, where big spenders Verizon and AT&T were among the firms pausing their campaigns with the video streaming giant. The whole episode has certainly been felt by parent company Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) and its shareholders. As our infographic shows, market capitalization sank from the end of last week to yesterday by a total of 24 billion dollars.
This chart shows the market capitalization of Alphabet from 23 February to 23 March, 2017.
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