The FTC is interviewing Facebook's rivals about its alleged anti-competition practices—and Snap came prepared
, the tech mogul gave the startup execs an ultimatum: Either sell their companies to Zuckerberg at the price he demands, or watch as Facebook copies their product and “make[s] operating more difficult.” And when Spiegel and Crowley refused to sell, that's exactly what Zuckerberg did, launching Instagram and Facebook Stories; location check-ins; and other features that mimicked Snap and Foursquare's functionality.
Of course, Snap and Foursquare aren't the only ones who Facebook has targeted over the years and allegedly attempted to bring down. Ashley Madison Chief Strategy Officer, whose company has been blocked from advertising on Facebook, said the tech giant's tactics have long been a source of concern around Silicon Valley.
reports that FTC investigators have already reached out to “dozens” of tech executives and app developers, including those whose companies have been bought by Facebook or have folded after losing access to its platform. For its part, Facebook maintains that its practices are above board and just a normal instance of companies “iterating” on others' ideas. “This is competition at work and one of the longtime hallmarks of the tech sector,” a Facebook spokeswoman told the.
The FTC's antitrust probe of Facebook is one of several the company is currently facing, along with general antitrust investigations into the tech industry by the
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Scary Spice Mel B shares a busty snap after her major beef with singer Jessie JScary Spice Mel B shared a busty bikini snap on Instagram after she criticised Jessie J's voice
Read more »
Here are the biggest analyst calls of the day: Apple, Netflix, Disney, Snap, Wynn & moreHere are the biggest calls on Wall Street on Tuesday
Read more »
Snapchat—Calling Facebook ‘Voldermort’—Reportedly Recorded Aggressive Tactics, Hands Dossier To FedsThe FTC is investigating Facebook for antitrust violations.
Read more »
Snapchat—Calling Facebook ‘Voldermort’—Reportedly Recorded Aggressive Tactics, Hands Dossier To FedsSnapchat is handing over a trove of documents to the Federal Trade Commission detailing Facebook’s efforts to stifle its business by rachsandl
Read more »