Facebook Breaking Up? | Antitrust Lawsuit
In this video [Facebook Breaking Up], I unpack how my company spends a little over $2 million a year on Facebook Ads…therefore yes, I do have something to do with this topic of conversation, the lawsuit at play and how this can impact our advertising on one of the largest advertising platforms in the world.
Dozens of states and the federal government sued Facebook on Wednesday in antitrust lawsuits, claiming the conglomerate has monopolized the digital marketing space and uses a “buy or bury” strategy for their competition.
I talk about what this means for Facebook, the Facebook user, and the Facebook Advertiser.
New York Attorney General Latitia James was the first to break the news, holding a news conference to announce the antitrust lawsuit.
The lawsuits target two of Facebook’s major acquisitions: Instagram and WhatsApp.
Both are seeking remedies for the alleged anticompetitive conduct that could result in requiring Facebook to divest the two apps.
The company’s stock was down almost 4% following the news of the lawsuits.
Facebook said in a tweet shortly after the lawsuits were released, that it was reviewing the complaints and “will have more to say soon”…click and what above to find out more!