The US Federal Trade Commission (FTC) and 47 state attorneys have sued Facebook for allegedly violating antitrust laws. If the lawsuit goes in FTC’s favor, the social media giant may be forced to sell WhatsApp and Instagram.
The move came after an investigation agency discovered that Facebook is buying out up and coming apps to crush the competition that threatens its relevance. This has created a monopoly for Facebook, depriving people of choices for social networks.
Facebook acquired Instagram in 2012 and WhatsApp in 2014 and the FTC is now claiming that Facebook bought these rival social media apps “to eliminate threats to its monopoly.”
In the court documents on its website, FTC said:
The FTC also found out Zuckerberg clearly stating in a private email that “it is better to buy than compete”.
Facebook was quick to respond to these lawsuits, denouncing them and saying that they are “revisionist history.”
Facebook also added that these transactions were reviewed by antitrust regulators and were approved as well.