Report: Authorities Rejected Facebook Offer to Foster Competitors’ Growth

1 min read

Antitrust regulators at the Federal Trade Commission (FTC), along with almost every state attorney general, filed lawsuits against Facebook (NASDAQ: FB) this month alleging it is a monopoly and seeking to break up the social network.

Yet Facebook tried to head off the legal showdown by offering to license its code and its members’ connections to another company or developer to create their own platforms to compete against it.

As the subsequent lawsuits make clear, the offer was too little, too late.

Continue reading

Leave a Reply

Your email address will not be published.

Previous Story

Here’s Where the Stock Market’s Winners Are on Wednesday

Next Story

Why Luminar Stock Tanked Today

Latest from Blog