Yesterday the Federal Trade Commission sued Facebook, alleging that the company has engaged in a years-long effort at market monopolization. The FTC complaint alleges that, “Facebook has engaged in a systematic strategy—including its 2012 acquisition of up-and-coming rival Instagram, its 2014 acquisition of the mobile messaging app WhatsApp, and the imposition of anticompetitive conditions on software developers—to eliminate threats to its monopoly.”
Broad-based complaint
FTC said in a statement that 46 state attorneys general and those of the District of Columbia and Guam have signed on to the lawsuit. The permanent injunction that FTC and its partners are is seeking in federal court may require the networking giant to divest itself of Instagram and WhatsApp and would require Facebook to cease trying to prevent software developers from working with other social media platforms. It would also require Facebook to get prior approval for future mergers and/or acquisitions.
“Personal social networking is central to the lives of millions of Americans,” said Ian Conner, Director of the FTC’s Bureau of Competition. “Facebook’s actions to entrench and maintain its monopoly deny consumers the benefits of competition. Our aim is to roll back Facebook’s anticompetitive conduct and restore competition so that innovation and free competition can thrive.”
Centrality of Facebook
Facebook is central not only to the personal lives of many Americans and citizens of other countries, it is also a key part of many companies’ marketing strategy. Creating community around the use of dietary supplements is an important part of connecting with consumers in a vital way, and Facebook has come to dominate that conversation.
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December 11, 2020 at 01:00AM
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Facebook's antitrust woes serve as wakeup call for social media market strategy - NutraIngredients-usa.com
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