The Fort Worth Press - Zuckerberg denies Meta bought rivals to conquer them

USD -
AED 3.672502
AFN 64.503014
ALL 81.192085
AMD 377.80312
ANG 1.79008
AOA 916.999719
ARS 1404.559202
AUD 1.40388
AWG 1.8
AZN 1.696955
BAM 1.646054
BBD 2.018668
BDT 122.599785
BGN 1.67937
BHD 0.377032
BIF 2970.534519
BMD 1
BND 1.265307
BOB 6.925689
BRL 5.200198
BSD 1.00223
BTN 90.830132
BWP 13.131062
BYN 2.874696
BYR 19600
BZD 2.015696
CAD 1.358022
CDF 2224.999745
CHF 0.7713
CLF 0.021644
CLP 854.640367
CNY 6.91325
CNH 6.90005
COP 3673.06
CRC 495.722395
CUC 1
CUP 26.5
CVE 92.801205
CZK 20.44695
DJF 178.476144
DKK 6.296865
DOP 62.819558
DZD 129.636078
EGP 46.866398
ERN 15
ETB 155.585967
EUR 0.842797
FJD 2.18685
FKP 0.731875
GBP 0.73421
GEL 2.69023
GGP 0.731875
GHS 11.014278
GIP 0.731875
GMD 73.489964
GNF 8797.562638
GTQ 7.686513
GYD 209.681152
HKD 7.816935
HNL 26.485379
HRK 6.351032
HTG 131.354363
HUF 319.825501
IDR 16833
ILS 3.069625
IMP 0.731875
INR 90.5975
IQD 1312.932384
IRR 42125.000158
ISK 122.380302
JEP 0.731875
JMD 156.812577
JOD 0.709025
JPY 153.0365
KES 129.290011
KGS 87.450025
KHR 4038.176677
KMF 414.999836
KPW 899.999067
KRW 1439.114991
KWD 0.30698
KYD 0.835227
KZT 494.5042
LAK 21523.403145
LBP 89531.808073
LKR 310.020367
LRD 186.915337
LSL 15.915822
LTL 2.95274
LVL 0.60489
LYD 6.309703
MAD 9.134015
MDL 16.932406
MGA 4437.056831
MKD 51.940666
MMK 2099.913606
MNT 3568.190929
MOP 8.069569
MRU 39.799019
MUR 45.90319
MVR 15.45984
MWK 1737.88994
MXN 17.191602
MYR 3.907058
MZN 63.889738
NAD 15.916023
NGN 1354.009762
NIO 36.880244
NOK 9.476925
NPR 145.330825
NZD 1.65372
OMR 0.384512
PAB 1.002209
PEN 3.365049
PGK 4.301573
PHP 58.121504
PKR 281.28012
PLN 3.556625
PYG 6618.637221
QAR 3.654061
RON 4.291103
RSD 98.882844
RUB 77.100343
RWF 1463.258625
SAR 3.750263
SBD 8.048395
SCR 13.730079
SDG 601.4974
SEK 8.892315
SGD 1.262305
SHP 0.750259
SLE 24.249679
SLL 20969.499267
SOS 572.813655
SRD 37.777002
STD 20697.981008
STN 20.619945
SVC 8.769715
SYP 11059.574895
SZL 15.90934
THB 31.074499
TJS 9.410992
TMT 3.5
TND 2.881959
TOP 2.40776
TRY 43.643964
TTD 6.79695
TWD 31.401096
TZS 2590.153987
UAH 43.122365
UGX 3543.21928
UYU 38.428359
UZS 12348.557217
VES 388.253525
VND 25965
VUV 119.366255
WST 2.707053
XAF 552.07568
XAG 0.011903
XAU 0.000197
XCD 2.70255
XCG 1.806292
XDR 0.686599
XOF 552.073357
XPF 100.374109
YER 238.401494
ZAR 15.879725
ZMK 9001.201678
ZMW 19.067978
ZWL 321.999592
  • RBGPF

    0.1000

    82.5

    +0.12%

  • CMSD

    -0.0100

    24.07

    -0.04%

  • CMSC

    0.0084

    23.7

    +0.04%

  • NGG

    1.8800

    90.64

    +2.07%

  • BCC

    -0.3200

    89.41

    -0.36%

  • RELX

    -1.5600

    27.73

    -5.63%

  • GSK

    -0.3300

    58.49

    -0.56%

  • BCE

    -0.1800

    25.65

    -0.7%

  • RYCEF

    -0.4800

    16.93

    -2.84%

  • RIO

    2.2800

    99.52

    +2.29%

  • VOD

    0.4300

    15.68

    +2.74%

  • JRI

    0.3500

    13.13

    +2.67%

  • BTI

    0.1400

    60.33

    +0.23%

  • BP

    1.5800

    38.55

    +4.1%

  • AZN

    11.3600

    204.76

    +5.55%

Zuckerberg denies Meta bought rivals to conquer them
Zuckerberg denies Meta bought rivals to conquer them / Photo: © AFP/File

Zuckerberg denies Meta bought rivals to conquer them

Meta chief executive Mark Zuckerberg on Wednesday denied in court that his company bought rival services Instagram and WhatsApp to neutralize them, as his testimony in a landmark antitrust case came to a close.

Text size:

The case could see the Facebook owner forced to divest of the two apps, which have grown into global powerhouses since their buyout.

During his third and final day on the stand in a federal courtroom in Washington, Zuckerberg took aim at the Federal Trade Commission's main argument -- that Facebook, since renamed Meta, devoured what it saw as competitive threats.

The co-founder of Facebook responded "No" when asked by Meta attorney Mark Hansen if his intent was to eliminate rivals with the purchases of photo sharing app Instagram and messaging service WhatsApp.

He explained that Instagram, purchased in 2012, was attractive for "its camera and photo sharing experience" but added that he "didn't view it as a broad network really competitive with where we were."

As for WhatsApp, bought two years later, Zuckerberg testified that he saw the app as technically impressive but its founders as "unambitious" in terms of "maximizing the impact that they could potentially have."

"I basically ended up pushing to add things," he told the court.

Zuckerberg testified that Facebook put its scale and resources to work building Instagram and WhatsApp into apps now used by billions of people.

- TikTok as new threat -

A key part of the courtroom battle is how the Federal Trade Commission convincingly defines Meta's market for the judge.

The US government argues that Facebook and Instagram are dominant players in apps that provide a way to connect with family and friends, a category that does not include TikTok and YouTube.

Meta's defense attorneys counter that substantial investments transformed these acquisitions into the blockbusters they are today. They also highlight that Meta's apps are free for users and face fierce competition.

The case was originally filed in December 2020, in the last days of President Donald Trump's first administration.

Zuckerberg, the world's third-richest person, has made repeated visits to the White House as he has tried to persuade the president to choose settlement instead of fighting the trial.

As part of his lobbying efforts, Zuckerberg contributed to Trump's inauguration fund and overhauled content moderation policies.

He also purchased a $23 million mansion in Washington in what was seen as a bid to spend more time close to the center of political power.

Zuckerberg wrapped some 12 hours of testimony on Wednesday with an assessment of TikTok, which he said has emerged as perhaps the biggest competitive threat for Instagram and Facebook.

Meta has seen the growth of its apps slow as the China-based video-snippet sharing sensation has boomed, so the US tech titan added a TikTok-like Reels feature to fire back in the marketplace, according to Zuckerberg.

"That said, TikTok is still bigger than either Facebook or Instagram, and I don't like it when our competitors do better than us," he told the court.

And as video has evolved into a favorite form of online media, particularly on smartphones, YouTube has become serious competition for Meta, the chief executive testified.

C.Rojas--TFWP