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'The aim was not to eliminate competition by buying Instagram and WhatsApp', Zuckerberg clarified
Meta: Meta CEO Mark Zuckerberg is undergoing an antitrust trial. The Federal Trade Commission (FTC) has accused him of eliminating competition by acquiring companies like Instagram and WhatsApp.
Meta CEO Mark Zuckerberg concluded his testimony in a historic antitrust trial Wednesday. Meta's chief executive explained in court that his intention to acquire Instagram and WhatsApp was not to eliminate these companies, but they were bought keeping in sight the potential that lay in them.
During the third day of testimony, Zuckerberg said, "My job is to understand what is new in the market and motivate our team to work rapidly in that direction." He also said that analyzing the competition is important for any innovative company.
The Federal Trade Commission (FTC) claimed that Zuckerberg was nervous about the rapidly growing popularity of Instagram, and so he decided to buy the company. To this, Zuckerberg replied that his objective was to run Instagram as an independent brand, not to end it.
