Meta Fined $840 Million by EU for Antitrust Violations
The European Commission penalized Meta for linking Facebook Marketplace to its social network, citing unfair competition practices.
- The European Commission fined Meta €797.72 million for anti-competitive practices by integrating Facebook Marketplace with Facebook.
- The Commission found that Meta's practices gave Facebook Marketplace an unfair advantage over rival classified ad services.
- Meta has been accused of using data from ads on Facebook and Instagram to benefit its Marketplace service.
- Meta plans to appeal the decision, arguing that the ruling ignores the competitive nature of Europe's classifieds market.
- This fine is part of a broader EU crackdown on Big Tech, with Meta previously facing other significant fines in Europe.
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