2 related media assets (image or videos) available. Click to see the gallery.
FILE PHOTO: Federal Trade Commission seal is seen at a news conference to announce that Facebook Inc has agreed to a settlement of allegations it mishandled user privacy at FTC Headquarters in Washington, U.S., July 24, 2019. REUTERS/Yuri Gripas
The Federal Trade Commission is probing Facebook Inc to check if the social media company’s acquisitions were aimed at snapping up potential rivals before they could become a threat, reported the Wall Street Journal, citing people familiar with the matter.
REUTERS: The Federal Trade Commission is probing Facebook Inc to check if the social media company’s acquisitions were aimed at snapping up potential rivals before they could become a threat, according to the Wall Street Journal, citing people familiar with the matter.
The company’s acquisition practices are the main focus of the probe, as FTC is looking into Facebook buying technology-based startup’s to keep them from challenging it, the report https://www.wsj.com/articles/ftc-antitrust-probe-of-facebook-scrutinizes-its-acquisitions-11564683965?mod=searchresults&page=1&pos=1 on Thursday said.
Advertisement
Advertisement
Facebook has been in the cross hairs of FTC for sometime now.
Last month, the company settled an FTC probe into allegations of inappropriately sharing data of 87 million users with the now-defunct British political consulting firm Cambridge Analytica and will pay a record-breaking US$5 billion in fine.
Also, Reuters and other news agencies reported in June that the FTC was gearing up to investigate complaints about the massive market power of Facebook and Alphabet Inc’s Google.
Both FTC and Facebook declined to comment on the report.
Advertisement
Advertisement
(Reporting by Sayanti Chakraborty in Bengaluru; Editing by Shinjini Ganguli)
