Connect with us

Hi, what are you looking for?

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…

You May Also Like

Editor's Pick

David Inserra Last week, Australia dropped its revised Combatting Misinformation and Disinformation Bill 2024, and it’s about two sandwiches short of a picnic. The...

Editor's Pick

So the first Fed rate cut is behind us, and we are no longer in a “higher for longer” period, but in a new...

Editor's Pick

Krit Chanwong and Scott Lincicome In a new Cato policy analysis out today, September 19, we show that state and local corporate subsidies have...

Editor's Pick

Colleen Hroncich Erica Paul and Anna Utley were homeschooling their children and attending a Pittsburgh-area co-op for enrichment activities twice a month. “It was...