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Meta is in trouble because of Instagram-WhatsApp, Zuckerberg may have to sell both companies!

Facebook's parent company Meta was accused by the FTC of establishing a monopoly over the acquisition of Instagram and WhatsApp, for which an antitrust trial is going on. Mark Zuckerberg rejected these allegations and said that the purpose of Meta is to connect people and give information.

Mark Zuckerberg testified in an antitrust trial of the Federal Trade Commission (FTC) and defended the allegations of monopoly against Meta over the acquisition of Instagram and WhatsApp. According to a Bloomberg report, Zuckerberg said that Meta competes with different social media platforms and the main objective of the company is to connect people with their friends and family, as well as allow them to learn about the world.

The FTC cited Zuckerberg's emails between 2011 and 2012, in which he described Instagram as a competitive platform. An antitrust case is being heard in Washington, USA against Meta, the parent company of social media platforms Facebook, WhatsApp, and Instagram. The US Competition and Consumer Watchdog has accused Meta of buying Instagram in 2012 and WhatsApp in 2014 to eliminate competition. According to the report, if these allegations are proved, Mark Zuckerberg may have to sell Instagram and WhatsApp.

Mark Zuckerberg said - Connecting with friends and family is our priority

According to media reports, Mark Zuckerberg said that connecting people with their friends and family remains one of our priorities. He said that we have always been a service that gives you a chance to know and understand what is happening in the world.

In response to a question from FTC's chief trial lawyer Daniel Matheson, Zuckerberg said that Facebook News Feed was started in 2006 so that a real connection could be made with friends. He also claimed that he bought Instagram because its camera technology was great, not because of its social network.

Meta accused of breaking US public policy rules

The Federal Trade Commission has said that Meta has created a monopoly in the market by acquiring Instagram in 2012 and WhatsApp in 2014. At the same time, Meta has been constantly rejecting these allegations and has claimed that the company has many competitors.

According to the report, FTC lawyer Matheson said - For the last 10 years, US public policy has believed that companies have to compete to succeed. We are here because Meta has broken this rule. If the FTC's allegations are proved, Mark Zuckerberg may have to sell Instagram and WhatsApp. Along with this, Meta's market value will also see a decline.