Meta Hit With $840 Million Fine for Linking Facebook and Marketplace
Matilda
Meta Hit With $840 Million Fine for Linking Facebook and Marketplace
Meta, the tech giant behind Facebook and Instagram, has been slapped with a hefty €797.7 million ($840 million) fine by the European Union for abusing its dominant position in the social media market. The European Commission, the EU's executive arm, accused Meta of anti-competitive behavior, specifically forcing Facebook users to be exposed to Marketplace and restricting third-party classified ads providers on the platform. This decision comes after nearly two years of investigation into Meta's practices. The Core Issue: Market Dominance and Anti-Competitive Tactics The EU's competition chief, Margrethe Vestager, highlighted Meta's strategic move to leverage its dominant position in social media to benefit its own Marketplace service. By bundling Marketplace with Facebook and imposing restrictions on competitors, Meta effectively stifled competition and gained an unfair advantage. Key findings from the EU investigation: Forced Exposure to Marketplace: Meta compelled Faceboo…
