US EditionLandmark Antitrust Trial Against Meta Begins in Washington, DC
- The US Federal Trade Commission's trial against Meta began in Washington, DC, as it aims to prevent the spinoff of Instagram and WhatsApp, which Meta acquired in past deals worth $1 billion and $22 billion, respectively.
- The FTC claims Meta has maintained a monopoly in personal social networking, defining a market where it controlled over 80% of user time from 2012 to 2020.
- Meta argues that the FTC is defining the market too narrowly and states that it has not raised prices for consumers, as all major apps are free.
- The case is seen as a significant legal challenge for Meta, with potential outcomes including the divestment of Instagram and WhatsApp, impacting its substantial advertising revenue of $1.3 trillion.
396 Articles
396 Articles
Meta and the FTC face off in court over monopoly claims
Meta CEO Mark Zuckerberg defended his social media platform on Monday before a federal judge in the U.S. government’s blockbuster case against the tech giant, which opened on Monday.The Federal Trade Commission is arguing that Meta has abused its power and acted as a monopoly by acquiring rivals in order to defang them as competitors.Over about three hours of testimony, Zuckerberg spoke about the early days of Facebook, the threat now-defunct My…
Will Meta have to give up Instagram? A huge antitrust trial looks to upend social media.
If the government gets its way, it could force a breakup of the social-media giant. One analyst asks: “Without Instagram and WhatsApp, what really is Meta?” Article Attribution | Read More at Article Source The post Will Meta have to give up Instagram? A huge antitrust trial looks to upend social media. appeared first on RocketNews.
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