The Federal Trade Commission (FTC) is preparing to file a lawsuit against Facebook against the monopoly before the end of the year, according to The Wall Street Journal And Bloomberg. If you remember, the agency started look in Smaller companies’ social media purchases like Instagram and WhatsApp last year, soon after Slapped Facebook is fined $ 5 billion for privacy practices related to the Cambridge Analytica scandal. While the Federal Trade Commission (FTC) has approved these acquisitions, it has the power to revisit past transactions – in this case, its efforts were part of its investigation of anti-competitive practices in the technology industry as a whole.
Back in July, lawmakers Grilled Facebook President Mark Zuckerberg on the company’s $ 1 billion Instagram acquisition during an antitrust hearing also attended by CEOs of Google and Amazon. Numerous emails were thrown out from top executives of the social network, including one in which they spoke of the necessity to “neutralize a potential competitor”. Zuckerberg also reportedly wrote in an email that Facebook “is always likely to buy into any competitive startup,” although he said he doesn’t remember writing the note.