Facebook's parent company Meta is currently going through a lot of trouble. The U.S. agency FTC alleges that Meta is engaged in monopoly. In such a case, Instagram and WhatsApp should be sold. After getting the green signal from the court, FTC Facebook is now going to be dragged to court.
Facebook has recently changed its name to Meta. Will Meta have to sell its 2 popular apps - WhatsApp and Instagram? That's possible. So let's know why you're saying that.
American social media giant Meta (first Facebook) has been accused of antitrust for a long time. The company is accused of not giving up on the opportunity to survive other small companies. The company is accused of gaining its right in the social media space in the US.
Facebook is also accused of preventing its competition from growing. If Facebook sees someone bumping into him, he either merges with him in any way or does not provide fairground to them.
For all these reasons, many times Meta CEO Mark Zuckerberg has been summoned to the U.S. Parliament and questioned sharply and accused.
FTC gets a green signal from the court...
The U.S. agency FTC (Federal Trade Commission) has won a major victory in the anti-trust case. Now FTC Meta's going to be dragged to court. FTC wants Meta to be sold to two of its popular apps. Not only that, FTC is the Independent Agency of the U.S. Government that protects the interests of the consumer.
The Federal Trade Commission (FTC) has also accused Meta of alleged antitrust violations and the same case is still going on. In this case, the Federal Judge has allowed FTC to drag Meta to court for violation of the Anti Trust.
It may be recalled that last year FTC had challenged Facebook for alleged antitrust violations, but the court has then rejected FTC's plea for lack of details. Once again FTC refiled the case and this time the FTC has succeeded.
According to reports, this time FTC has collected a lot of facts against Meta. These facts are collected to prove that Facebook is monopolizing social networking.
This time FTC did good homework, the judge said...
U.S. District Judge James Bosberg has said that FTC has enough evidence that Meta has made a monopoly in social networking. Last time FTC has not provided any data to prove this.
The Federal Trade Commission, the FTC, has also filed a case against Facebook for antitrust. FTC says Meta is doing monopoly. So sell WhatsApp and Instagram.
District Judge James Bosberg said the FTC has enough data against Facebook this time as compared to last time. He writes that FTC has also used ComScore data this time showing that more than 70% of Meta's daily active users have been in place since 2016.
The judge has also said that in short, FTC is doing his homework well this time. Meta wouldn't want to sell two of its big apps, WhatsApp and Instagram, at any cost. The Meta, therefore, has also applied to the court to dismiss the FTC case. But this time the court has rejected Facebook's plea.
The road ahead is not easy:-
Even though the judge has just rejected Meta's plea and flagged off the FTC, it is not easy for FTC. According to the report, the judge has also indicated that the fight is not going to be easy for FTC.
Significantly, in 2012, when Facebook bought Instagram for $1 billion, it was the FTC that approved. Even after which WhatsApp was purchased, the FTC has approved the acquisition.
Now FTC argues that Facebook deliberately bought these apps one by one so that they have eliminated competition and monopolized.
FTC Chairman Leena Khan wins big.
The Federal Trade Commission is an independent agency of the U.S. government. The agency's key task is to protect the interests of the consumer and to enforce the Civil Anti Trust Law.
Lina Khan has recently been elected as the head of the FTC by US President Joe Biden. Leena Khan is the youngest ever FTC chairman. He is 32 years old. Lina Khan is said to be quite strict in anti-trust affairs.
The judge's decision is said to be crucial for Leena Khan and is like a big victory for her. However, the road ahead is not easy, because now they have to be against Facebook\0. More evidence has to be collected.