Meta to Stand Trial Over Instagram and WhatsApp Acquisitions
Meta, the parent company of Facebook, has been ordered to stand trial in a lawsuit filed by the U.S. Federal Trade Commission (FTC). The FTC claims Meta bought Instagram and WhatsApp to eliminate competition in the social media market.
The FTC argues that Meta overpaid for the platforms to prevent new competitors from growing, instead of competing fairly. However, Meta says the FTC is focusing too narrowly on social media and ignoring other competition from platforms like TikTok, YouTube, and LinkedIn.
This lawsuit is part of a larger effort by U.S. regulators to challenge the power of major tech companies like Meta.
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