Connect with us

Hi, what are you looking for?

Brilliant AchievementBrilliant Achievement

Tech News

Meta hit with $840 million fine for linking Facebook and Marketplace

A Facebook logo surrounded by blue dots and white squiggles.
Illustration by Nick Barclay / The Verge

Almost two years after EU regulators first accused Meta of “abusive practices” that gave the tech giant unfair market advantages, the European Commission has fined Meta €797.7 million (around $840 million). The combination of forcing Facebook users to be exposed to Marketplace and imposing restrictions against third-party classified ads providers on the platform are the two main reasons cited for the fine.

In a statement, the EU’s competition head Margrethe Vestager accused Meta of abusing its dominant position in the social media market “to benefit its own service Facebook Marketplace, thereby giving it advantages that other online classified ads service providers could not match. This is illegal under EU antitrust rules.”

The European…

Continue reading…

Join The Exclusive Subscription Today And Get Premium Articles For Free
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

You May Also Like

Editor's Pick

Thomas A. Berry and Alexander Khoury Since the creation of the market square, there have been boisterous, loquacious individuals who have solicited bids for...

Editor's Pick

We had a sneak preview of emerging leadership on the morning of July 12th. That was the morning the June Core CPI came in...

Tech News

Image: Samar Haddad for The Verge I’d been promised the future of tennis was in the desert. From the stands of the Next Gen...

Editor's Pick

Colleen Hroncich A few years ago, EdChoice released what’s casually known as the Chicken Little report. The official title was a little less catchy...