Alphabet Inc. and Meta Platforms Inc. have reportedly withdrawn their participation from the upcoming Web Summit conference due to the controversy surrounding comments made by the event's CEO regarding Israel.
This move follows similar actions by other tech giants and sponsors, marking a significant setback for one of the tech industry's most prominent events, according to a news report by Bloomberg.
The controversy ignited following Web Summit CEO Paddy Cosgrave's critical remarks about Western support for Israel on social media.
Also Read: Meta And AI - Chief Product Officer Chris Cox Reveals Future Plans
Google and Meta, previously significant participants, confirmed their exit on Friday, distancing themselves from the event scheduled for November in Lisbon.
Their withdrawal comes on the heels of earlier pullouts by companies like Intel Corp. and Siemens AG.
Furthermore, Stripe Inc., a recurrent sponsor, has also backed out.
Despite Cosgrave's subsequent apology and acknowledgment of the offense his comments caused, a coalition of Israeli investors has advocated for a boycott, according to the Bloomberg report.
The Web Summit, known for attracting a global roster of tech companies, investors and political speakers, faces uncertainty as other scheduled attendees, including officials from Amazon.com Inc., have remained silent on their plans.
Despite the turmoil, Portuguese Economy Minister Antonio Costa Silva has confirmed his attendance, while German Vice Chancellor Robert Habeck's participation hangs in the balance.
Read Next: Israel-Hamas Conflict: Here's How Zuckerberg's Meta Is Handling Content Moderation Vs. Musk's X
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
