Facebook may be forced to sell Instagram and WhatsApp as per lawsuit by US FTC-Techweu
Facebook could be forced to sell Instagram and WhatsApp after being accused of acquiring rivals and smaller competitors using its Predator strategy and its market advantage. The Federal Trade Commission has filed a proceeding against Menlo Park, followed by unions in 46 states in Washington, DC, and Guam.
According to the Antimonopoly Act proceedings, Facebook “used its monopoly power to drown out competition at the expense of everyday users.” “It’s very important to stop this predatory takeover,” said Letitia James, New York Attorney General, and said market confidence needs to be restored.
In order for Facebook to break its monopoly, it may need to let go of its two most valuable possessions: the photo-oriented social media platform Instagram and the messaging service WhatsApp. The former was purchased for $ 1 billion in 2012, followed by the latter for an astonishing $ 19 billion in 2014.
Facebook called the government’s actions to punish successful businesses “revisionist history” and said the FTC had already confirmed the deal for the day. “Customers can choose to move to another product or service at any time,” social media said. However, there is really no alternative to Instagram, and no messaging service is as popular around the world as WhatsApp.
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