Wednesday, April 16, 2025

Creating liberating content

Beijing, China: China on Wednesday said its economy grew a

PUNE: Saurabh Chaudhary opened India’s and his own medal account

Related News

Beijing, China: China on Wednesday said its economy grew a forecast-beating 5.4 percent in the first quarter as exporters rushed to get goods out of factory gates ahead of swingeing

PUNE: Saurabh Chaudhary opened India’s and his own medal account in the Peru World Cup with a bronze in the men’s 10m air pistol event in Lima on Tuesday. A

Nvidia warned that it expects a $5.5 billion hit to its revenue after the Trump administration blocked sales of its China-specific AI chips, a move that could reshape the global

Manu Bhaker and Suruchi Singh (@issf_official on X) NEW DELHI: India made a strong start at the ISSF World Cup in Lima, securing three medals on day one with Suruchi

MUMBAI: A thaw in tariff-related developments around the world on Tuesday lifted investor sentiment on Dalal Street, leading to a 1,578 point (2.1%) rally in the sensex, which closed at

MUMBAI: IndusInd Bank on Tuesday said that an external agency reviewing discrepancies in account balances of its derivatives portfolio quantified the hit to its net worth at Rs 1,979 crore,

Trending News

Beijing, China: China on Wednesday said its economy grew a forecast-beating 5.4 percent in the first quarter as exporters rushed to get goods out of factory gates ahead of swingeing

MUMBAI: IndusInd Bank on Tuesday said that an external agency reviewing discrepancies in account balances of its derivatives portfolio quantified the hit to its net worth at Rs 1,979 crore,

MUMBAI: Markets regulator Sebi on Tuesday barred the two promoters of Gensol Engineering, Anmol Singh Jaggi and Puneet Singh Jaggi, from the securities markets until further notice due to fund

Hermes’s market cap at $276.3 billion surpassed that of rival LVMH Moet Hennessy Louis Vuitton, the conglomerate which tried to buy the maker of the Birkin bag 15 years ago.

BENGALURU: Goldman Sachs Alternatives acquired a majority stake in Gurugram-based human capital management software provider PeopleStrong, the companies announced on Monday. The deal was made through the private equity arm

MUMBAI: A wealth management firm owned by the family of a senior Tata Sons executive, was erroneously listed as a Tata group company, Tata Pension Management said. In Aug 2022,

Meta CEO Zuckerberg considered spinning off Instagram 2018: FTC trial

Word Count: 282 | Estimated Reading Time: 2 minutes


Thilina Kaluthotage | Nurphoto | Getty Images

Meta CEO Mark Zuckerberg considered spinning out Instagram in 2018 on concerns about the rising threat of antitrust litigation against Facebook, according to an email presented Tuesday in a Washington, D.C. courtroom.

During Zuckerberg’s second day of testimony in Meta’s antitrust trial with the Federal Trade Commission, lawyers representing the FTC presented an email from May 2018, in which Zuckerberg appeared to comment on the possibility of separating the photo-sharing app his company purchased in 2012 for $1 billion. In 2012, Instagram had fewer than 10 employees while Facebook, prior to its corporate rebranding to Meta, was approaching its initial public offering.

“And i’m beginning to wonder whether spinning Instagram out is the the only structure that will accomplish a number of important goals,” Zuckerberg wrote in the email. “As calls to break up the big tech companies grow, there is a non-trivial chance that we will be forced to spin out Instagram and perhaps WhatsApp in the next 5-10 years anyway. This is one more factor we should consider.”

Meta’s acquisition of Instagram and its ensuing 2014 purchase of WhatsApp for $19 billion are at the heart of the blockbuster antitrust trial that kicked off Monday and could last weeks.

The FTC alleges that Meta monopolizes the personal social networking market, and believes that the company should never have been able to acquire the photo-sharing and messaging apps. The commission is seeking to cleave those apps from Meta as a possible remedy.

Meta disputes the FTC’s allegations and claims the commission mischaracterizes the competitive landscape and fails to acknowledge a number of rivals like TikTok and Apple’s iMessage.

WATCH: Mark Zuckerberg takes witness stand on first day of antitrust trial.

Mark Zuckerberg takes witness stand on first day of antitrust trial



Source link

Most Popular Articles

Sign In

Welcome ! Log into Your Account