While Facebook, founded eight years ago by Mark Zuckerburg, is readying to begin trading on the Nazdaq on Friday, news broke that GM yesterday announced that it was dropping Facebook as an advertising venue.

GM is the third largest advertisier in the United States. th automaker has a page on Facebook, and according to GM, they plan on keeping the page where they advertise for free on the largest social network, but will discontinue buying adspace on the giant. Ranking third in advertising dollars spent, behind AT and T and Proctor and Gamble, GM spends enormous amounts, last year expending $1.1 billion last year alone.

“In terms of Facebook specifically, while we currently do not plan to continue with advertising, we remain committed to an aggressive content strategy through all of our products and brands, as it continues to be a very effective tool for engaging with our customers,” GM said.

Reports have come out showing that many advertisers have noticed very substantial drops in results from their advertising results in Zuckerburg’s network.

In contrast, Ford has stated that they will continue to advertise on the social network, and even plans to up their advertising levels. More than 20% of Ford’s advertising is done on digital and social media. “You just can’t buy your way into Facebook,” said Ford spokesman Scott Monty. “You need to have a credible presence and be doing innovative things.”

At the asking price of $38 a share, the IPO could raise as much as $16 billion for the social giant. This will make Facebook’s IPO offering the third largest initial share sale only behind Visa and General Motors. The sale will increase Zuckerburg’s personal worth at almost $19 billion.

There are roughly 200 million Facebook users in the United States and over 901 million users worldwide.