Technical News Office – European Union regulators on Thursday fined Facebook’s parent company, Meta, nearly 800 million euros for “abusive behavior” linked to its online classifieds business. The European Commission, the executive branch of the 27-nation bloc and the main antitrust enforcement agency, imposed a fine of 797.72 million euros ($841 million) after its lengthy investigation found that the company had abused its dominant position and engaged in hostile behavior.
Brussels had accused Meta of distorting competition by linking its online classifieds business to its social network, exposing Facebook users to the market “whether they like it or not” and driving out its competitors. There were also concerns that Meta would impose unfair trading conditions. giving the company the right to use advertising data generated by competitors’ ads on Facebook or Instagram to benefit the markets. Meta said in a statement that the decision did not prove “competitive harm” to competitors or consumers and “ignores realities.” the thriving European market for online classifieds services. The company will appeal this decision.
Preparing to Advertise in Threads
The meta-platform plans to introduce advertising on its Threads social media app early next year, The Information reported on Wednesday, citing three people familiar with the project. The Threads app was launched in July last year on Twitter) to challenge. Meta CEO Mark Zuckerberg said last month that the app’s monthly active users had reached 275 million, reflecting its rapid growth. According to the report, Threads has allowed some advertisers to create and publish ads on the app since January.
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