The rise of social networks gained momentum following Mark Zuckerberg’s co-founding of Facebook in a Harvard dormitory in 2004. Approximately a decade later, the company experienced another surge in growth after acquiring the smaller competitors Instagram and WhatsApp to solidify its position in the social media landscape.
The U.S. District Court in the District of Columbia is set to begin a landmark antitrust case involving a company currently known as Meta. The case, Federal Trade Commission v. Meta Platform, revolves around the theory of U.S. antitrust law and the concept of “purchase or bury” strategies. The FTC alleges that Meta violated antitrust laws by acquiring competitors to maintain its social networking monopoly and is seeking to force Meta to divest Instagram and WhatsApp.
Despite facing competition from platforms like TikTok, Snapchat, Reddit, and LinkedIn, Meta has not given up on defending its case. The company is actively working to avoid a trial, as evidenced by Zuckerberg’s recent visit to the White House to persuade the Trump administration.
Source: www.nytimes.com