Mark Zuckerberg
Mark Zuckerberg iStock

Facebook CEO Mark Zuckerberg has no intention of capitulating to pressure even after more than 500 companies joined an advertising boycott of Facebook, Information reported.

Information obtained a transcript of a talk Zuckerberg had with his staff in which he told them that in his opinion, the boycott was a "reputational and a partner issue" rather than an economic one, adding, "My guess is that all these advertisers will be back on the platform soon enough."

"We're not gonna change our policies or approach on anything because of a threat to a small percent of our revenue, or to any percent of our revenue," he emphasized.

A Facebook spokesperson, who confirmed the accuracy of the transcript, noted that, "We take these matters very seriously and respect the feedback from our partners."

"We’re making real progress keeping hate speech off our platform, and we don’t benefit from this kind of content. But as we’ve said, we make policy changes based on principles, not revenue pressures.”

Last month, a new campaign called for advertisers to boycott Facebook until the social media giant agrees to change its policies regarding hate speech. The campaign, called Stop Hate for Profit, has quickly gained traction, growing from nearly 100 companies last week to over 500 this week.

Facebook, for its part, has promised to label hate speech and other posts violating company policies, but refused to take them down.