Federal Trade Commission voted 3-2 to sue Facebook for illegally maintaining a monopoly in social networking. The Lawsuit claims: Following a lengthy investigation in cooperation with a coalition of the attorneys general of 46 states, the District of Columbia, and Guam, the complaint alleges that Facebook has engaged in a systematic strategy—including its 2012 acquisition of up-and-coming rival Instagram, its 2014 acquisition of the mobile messaging app WhatsApp, and the imposition of anti-competitive conditions on software developers—to eliminate threats to its monopoly. If successful, The lawsuit could force Facebook to divest itself of Instagram and WhatsApp.
US government has filed antitrust charges against Google back in October
- The FTC is seeking a permanent injunction in federal court that could, among other things: require divestitures of assets, including Instagram and WhatsApp; prohibit Facebook from imposing anticompetitive conditions on software developers and require Facebook to seek prior notice and approval for future mergers and acquisitions.
- The complaint alleges that Facebook executives, including CEO Mark Zuckerberg, quickly recognized that Instagram was a vibrant and innovative personal social network and an existential threat to Facebook’s monopoly power.
Read Full Complaint Here : Download
- Our products became and remain popular for this very reason — we constantly evolve, innovate and invest in better experiences for people against world-class competitors like Apple, Google announces Google T.V, helps you easily browse and discover what to watch
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- Google, Twitter, Snap, Amazon, TikTok, and Microsoft.
- We provide many ways to communicate, share, and connect — with people, businesses, news, and entertainment.
- More than 200 million businesses use our free tools and services to connect with customers, hire new employees, and grow their businesses.
- The FTC and states stood by for years while Facebook invested billions of dollars and millions of hours to make Instagram and WhatsApp into the apps that users enjoy today.