Facebook accused of ‘copy, acquire and kill’ tactics in US antitrust hearing  | EURACTIV.com


Social media giant Facebook has come in for heavy criticism as part of a US congressional hearing into the dominance of online tech platforms, being accused of ‘copy, acquire and kill’ tactics as part of its history in acquiring smaller businesses.

Internal Facebook emails disclosed during the hearing on Wednesday (29 July), demonstrate how the company believed the photo-sharing platform Instagram to previously be a ‘threat’ before Facebook’s 2012 $1billion buyout.

Facebook chief Mark Zuckerberg also admits in one email exchange with chief financial officer, David Ebersman how his approach towards mergers and acquisitions was to ‘neutralise a competitor’ and ‘integrate their products with ours.’

Moreover, Facebook faced allegations of threatening Instagram founder Kevin Systrom by going into ‘destroy mode’ should the company have decided to block’s Facebook’s acquisition of it, by competing more aggressively with the Facebook Camera product.

Source: Facebook accused of ‘copy, acquire and kill’ tactics in US antitrust hearing  – EURACTIV.com

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