The US Competition Authority (FTC) announced on Wednesday July 27 that it has opened proceedings against Meta (Facebook, Instagram) to prevent it from buying Within Unlimited and virtual reality exercise app Supernatural.
The federal agency views the acquisition as “illegal“because that, he said, could limit consumer choice and raise prices, while the Californian social media giant is already a dominant player in this market.
“Instead of playing a competitive game, Meta tries to buy his way to the topJohn Newman, the FTC’s deputy director for competition, said in a press release. “Meta already has a successful VR fitness app and has the potential to compete with Within’s popular Supernatural app. But Meta chose to buy market share instead of earning it. It is illegal acquisition“, he insisted.
At the Crossroads of Powers
The California group is already in the crosshairs of competition regulators. It faces multiple investigations and complaints for abusing its dominant position in the social media and online advertising market. The FTC specifically accuses him of illegal monopoly in the market.personal social networks“. He criticizes the group he hasillegally bought out or buried new innovators when their popularity became an existential threat“, referring to Instagram and WhatsApp.
Last fall, Facebook rebranded as Meta to mark the pivot to “metaverse”, is presented as the future of the Internet, a parallel universe in augmented and virtual reality. And in late October, the company signed a deal with Within to buy the startup and its app, which is already used by thousands of people through the Oculus VR headset, which is also owned by Meta.
Source: Le Figaro
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.