Zuckerberg Takes Stand in FTC's Case Against Meta's Acquisitions

Mark Zuckerberg testified at a trial where the FTC seeks to unravel Meta's acquisitions of Instagram and WhatsApp. Key points include discussions about potentially spinning off Instagram, the evolving social media landscape, and competition concerns, especially regarding the rise of TikTok as a competitive threat.

Meta Platforms CEO Mark Zuckerberg appeared in a Washington courtroom this week, defending the company's acquisitions of Instagram and WhatsApp against the U.S. Federal Trade Commission's moves to dismantle these deals. His testimony provided insights into the company's strategic decisions and the challenges posed by antitrust regulations.

In a notable moment from the trial, it was revealed that Zuckerberg once considered spinning off Instagram as a separate entity, highlighting the intense regulatory pressure on Big Tech companies. He also explained how Instagram's camera outperformed their in-house development, justifying the acquisition as a competitive move.

Zuckerberg argued that the social media market has evolved significantly since Meta acquired Instagram in 2012 and WhatsApp in 2014. He countered FTC's monopoly claims by citing the rise of TikTok as a potent competitor, asserting that Meta's market share would be less than 30% if platforms like TikTok and YouTube were considered part of the same market.

(With inputs from agencies.)