The European Union has fined Meta Platforms €798 million ($840 million), accusing the company of antitrust violations related to Facebook Marketplace. The EU Commission alleges that Meta unfairly linked its classified ads service, Facebook Marketplace, to its main social platform, Facebook, creating an advantage that harms competition.
In its statement, the European Commission claimed Meta engaged in “abusive practices” by tying Marketplace to Facebook and setting “unfair trading conditions” for other online classifieds providers. Meta plans to appeal but has committed to addressing the EU’s concerns promptly.
The EU’s decision follows a formal investigation launched in June 2021 and intensifying in December 2022, with findings suggesting that Meta’s integration of Marketplace could potentially limit competition across European markets. However, Meta contends that the claims misrepresent user choice, noting that many users can opt out of Marketplace. Additionally, Meta argues there’s no evidence of harm to competitors.
Facebook launched Marketplace in 2016, expanding into Europe shortly afterward. Under EU rules, companies found in breach of antitrust policies face penalties up to 10% of their global revenue.
Source: Swifteradio.com
