Meta had ‘monopoly power’ after buying rival apps, FTC says

The Federal Trade Commission has said that Meta’s acquisitions of Instagram and WhatsApp helped give it “monopoly power” and the company’s anti-competitive conduct had harmed consumers. The FTC argues that Meta’s purchases of Instagram and WhatsApp are “killer acquisitions” that prevented those companies from competing. If the FTC prevails, Meta may be forced to divest these platforms. Meta contends that the deals were approved by regulators and that it still faces competition from platforms including TikTok and YouTube.