giphy
Meta Platforms Inc (NASDAQ:FB) –formerly known as Facebook Inc– is facing a fresh setback in the U.K. as the country’s regulator decided to stop the company’s acquisition of Giphy, the internet’s biggest GIF repository. The watchdog ruled that the purchase could damage competition among social media platforms. Q3 2021 hedge fund letters, conferences and more AllegationsIn the decision, the Competition and Markets Authority of the United Kingdom (CMA) claimed that the acquisition of Giphy by Facebook Inc –now Meta Platforms Inc–may increase competition problems both in the supply of advertising...
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Facebook Inc (NASDAQ:FB) could have to sell its gif search engine Giphy, as the Competition and Markets Authority (CMA) in the U.K. alleges the acquisition could now harm competition in the online marketing space. Q2 2021 hedge fund letters, conferences and more Unfair CompetitionThe social network giant bought Giphy for a reported $400m in May last year. Back then, reports BBC, “Facebook said half of Giphy's traffic came from its apps, including WhatsApp and Instagram.” However, Giphy also provides gifs to rival platforms like TikTok, Snapchat, and Twitter, so the CMA “sent an enforcement ord...
ValueWalk
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