Mark Zuckerberg: Meta, the parent company of social media platforms Facebook, WhatsApp and Instagram, may have to sell its two platforms WhatsApp and Instagram. The reason is the hearing of the antitrust case against the company in Washington, USA.
The US Competition and Consumer Watch Dog has accused the company of buying Instagram ($1 billion) in 2012 and WhatsApp ($22 billion) in 2014 to eliminate market competition and create its monopoly.
If the FTC wins the case, the platforms may have to be sold
The Federal Trade Commission (FTC) itself gave permission to buy WhatsApp and Instagram. But under the rules, the FTC also has to monitor the outcome of the deal. That’s why it had to file a case against Meta. If the (FTC) wins the case, it can force Meta CEO Mark Zuckerberg to sell both Instagram and WhatsApp.
Zuckerberg and former COO may be called for questioning
According to the report, both Zuckerberg and the company’s former Chief Operating Officer (COO) Sheryl Sandberg may be called for questioning during the hearing in this case. The hearing of the anti-trust case may last more than 6 weeks.
Arguments against Zuckerberg…
Rebecca Ho Allensworth, professor of antitrust at Vanderbilt Law School, said that Zuckerberg bought Instagram to neutralize the competition Facebook was facing from it.
Zuckerberg’s conversations and his emails may provide the most solid evidence in the case. Zuckerberg had said that it is better to buy that company instead of competing in the market.
Mark Zuckerberg’s argument…
Meta argued that it would win the case because its users’ experience improved after buying Instagram.
According to the report, Meta may argue that intent is not very relevant in an antitrust case.
