Europe fines Meta $840 million over ‘abusive’ practices benefiting Facebook Marketplace
CNN
The European Union has fined Meta Platforms €798 million ($840 million) over what it called abusive practices benefiting Facebook Marketplace.
The European Union has fined Meta Platforms €798 million ($840 million) over what it called abusive practices benefiting Facebook Marketplace. “The European Commission has fined Meta … for breaching EU antitrust rules by tying its online classified ads service Facebook Marketplace to its personal social network Facebook and by imposing unfair trading conditions on other online classified ads service providers,” the EU’s executive arm said in a statement. Meta (META) said it will appeal the decision, but in the meantime, it will comply and will work quickly and constructively to launch a solution that addresses the points raised. The move by the European Commission comes two years after it accused the US tech giant of giving its classified ads service Facebook Marketplace an unfair advantage by bundling the two services together. The European Union opened formal proceedings into possible anticompetitive conduct of Facebook in June 2021, and in December 2022 raised concerns that Meta ties its dominant social network Facebook to its online classified ad services. Facebook launched Marketplace in 2016 and expanded into several European countries a year later.
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