Meta fined $840 million

According to EU competition chief Margrethe Vestager, linking Facebook with Marketplace allowed Meta to profit and impose unfair trading conditions on other providers.

The EU antitrust investigation into Meta began in 2019, following rival allegations that Meta was abusing its dominance by offering free services while profiting from data it collected on the platform.

Meta fined $840 million

In December 2022, the European Commission made initial charges against Facebook for using data collected for free - mainly from businesses - and then selling ads to users, which violated antitrust laws.

The European Commission determined: Meta dominates the market for personal social networks... as well as in the market for online display advertising on national social networks.

Launched in 2016, Facebook Marketplace is a popular platform for buying and selling used goods, especially household items like furniture. Meta argues that its operating environment is highly competitive.

In recent years, Meta has faced billions of dollars in fines in Europe: most recently, it was fined $100 million in September for leaking user passwords; in January 2023, it was fined more than $400 million; in May 2023, it was fined more than $1 billion for violating GDPR data protection regulations.

Still, lawsuits often take years to close, and Meta is still appealing these fines.

Regarding the European Union's nearly $840 million fine, Meta said it would appeal, pointing out that the European Commission's decision did not provide evidence of competitive harm to rivals or any harm to consumers.

Source: https://kinhtedothi.vn/meta-bi-phat-840-trieu-usd.html