TECH
FTC probing Facebook for snapping up Instagram, others to squash rivals
By Josh Kosman
August 1, 2019 | 9:54pm | Updated
Mark Zuckerberg
Reuters
The Federal Trade Commission is probing whether Facebook snapped up companies like Instagram in order to squash up-and-coming rivals, according to a new report.
The FTC has been reaching out to founders of companies Facebook purchased to learn whether CEO Mark Zuckerberg has been eliminating threats through acquisition, the Wall Street Journal reported Thursday.
That jibes with The Post’s reporting earlier this year revealing that a high-ranking Facebook executive said at the time of the $1 billion acquisition of Instagram that the purchase would serve to eliminate a potential competitor. The FTC got hold of that executive’s statement in 2012 before the merger was completed.
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READ MORE: https://nypost.com/2019/08/01/ftc-probing-facebook-for-snapping-up-instagram-others-to-squash-rivals/
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