FACEBOOK Inc could be forced to sell WhatsApp and Instagram after the U.S. Federal Trade Commission and nearly every U.S. state filed lawsuits against the social media company.
The lawsuits claim it used a “buy or bury” strategy to snap up rivals and keep smaller competitors at bay.
With the filing of the twin lawsuits on Wednesday, December 9, Facebook becomes the second big tech company to face a major legal challenge this year after the U.S. Justice Department sued Alphabet Inc’s Google in October, accusing the $1 trillion company of using its market power to fend off rivals.
The lawsuits highlight the growing consensus to hold Big Tech accountable for its business practices and mark a rare moment of agreement between the Trump administration and Democrats, some of whom have advocated breaking up both Google and Facebook.
She said WhatsApp and Instagram have succeeded after Facebook invested billions of dollars in developing the apps.
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