FTC Sue Facebook And Ask For It To Sell Subsidiaries Instagram And WhatsApp
16 Dec 2020
The Federal Trade Commission has launched a anti-trust lawsuit against tech giants Facebook, alleging that the company is illegally maintaining its personal social networking monopoly through a years-long course of anticompetitive practices.
The complaint alleges that Facebook has engaged in a systematic strategy including its 2012 acquisition of up & coming rival Instagram, its 2014 acquisition of WhatsApp, and the imposition of anticompetitive conditions on software developers all in an effort to protect its monopoly.
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.”