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The executive arm of the European Union isn't shying away from slapping major tech companies with hefty fines. The European Commission has fined Meta €797.12 million ($842 million) for violating antitrust regulations.
The EC says that by tying Facebook Marketplace to Facebook and "imposing unfair trading conditions on other online classified ads service providers," Meta "abused its dominant positions" in the social networking space. Regulators determined that all Facebook users are "regularly exposed" to Marketplace, even if they don't want to be. To that end, the link between the two services gives Meta "a substantial distribution advantage which competitors cannot match."
In addition, the EC found that third-party classified ads services that advertised on the likes of Facebook and Instagram were subject to unfair trading conditions. "This allows Meta to use ads-related data generated by other advertisers for the sole benefit of Facebook Marketplace," regulators contended.
The fine was determined based on the duration and extent of the infringement, as well as Meta's revenue. The Commission also told Meta to end the practice and avoid repeating such conduct or trying something similar.
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Across the platform, new users—among them journalists, left-leaning politicians and celebrities—have shared that they're looking forward to using a space free from advertisements and hate speech.
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