00:42
+10 C°
Traffic jam:   0
$
77.1657
91.7809

U.S. authorities demand the sale of Instagram and WhatsApp

10 December 2020
1646
1 min.
4
U.S. authorities demand the sale of Instagram and WhatsApp

Sales lawsuit

The antitrust authorities of the USA and Europe have already checked the acquisition transactions of the social network Instagram and WhatsApp and found no violations. The new process is a review of history, Facebook noted.

The decision of the U.S. Federal Trade Commission (FTC), which required Facebook to sell WhatsApp and Instagram, means that now no transaction will ever be recognized as final and the competition authorities will always be able to review it, which will strike a blow to innovative technologies. This was stated in a Facebook statement published on the company's blog.

"No American competition authority has ever initiated such a case, and there were good reasons for it. Facebook has spent billions of dollars and millions of hours turning Instagram and WhatsApp into applications that users use today", the statement said.

The company also noted that it understands the atmosphere in which FTC made this decision.

"Important questions have been raised about "big technology" and whether Facebook and its competitors are making the right decisions regarding elections, harmful content and privacy", the company said and assured that it is making great efforts in this regard.

The company acquired Instagram in 2012, and WhatsApp in 2014 and then the FTC and European antitrust authorities found no violations and the transactions were approved.

"The Instagram that you see today is Instagram, which Facebook has built, not the application it has purchased. Facebook bought Instagram when it had about 2% users, only 13 employees, no income and almost no infrastructure of its own", the statement says.

Companies4 in the news

WhatsApp
2 place
Instagram
3 place
Facebook
4 place
Section:

Discussion

Rating companies
Tesla
52 Mention
Apple
51 Mention
Amazon
49 Mention
Nasdaq
46 Mention
Dow Jones
40 Mention
Facebook
38 Mention
White House
31 Mention

NEW YORK NEWS

News from GlobalNY.biz is the freshest and most relevant information about high-profile events in the region. The task of the resource's news feed is to convey to readers with maximum accuracy and objectivity information about important events in business, politics, economy, healthcare, culture and other spheres of life in New York.
GlobalNY.biz news is a coverage of economic processes taking place in New York, the latest news of public life, incidents and an overview of political events. New York news is information about the activities of small and medium-sized businesses, the work of housing and communal services and utilities, the implementation of significant projects.
The site's journalists describe not only the life of the region, but also talk about the current state of the US economy. Everything you need to know about innovations in the field of industry and agriculture, economy and power is collected in the "News" section at GlobalNY.biz.
New York news quickly informs the reader, shows the real picture and opens up hot topics. Communication with government structures and business enables us to provide our readers with reliable, information-rich material. The main page of the portal contains the key news of New York!
Alena Potapova

Development Director