Zuckerberg defends Facebook's acquisition of Instagram, Whatsapp, in first day of FTC trial
The trial centers on the FTC's allegations that Meta has illegally monopolized the social media market by purchasing up-and-coming apps instead of competing against them, which Zuckerberg denied.
Meta CEO and founder Mark Zuckerberg on Monday defended his company's decision to purchase the popular apps Instagram and WhatsApp, during the first day of an antitrust trial.
The trial centers on the Federal Trade Commission's (FTC) allegations that Meta has illegally monopolized the social media market by purchasing up-and-coming apps instead of competing against them, which Zuckerberg denied.
The FTC has argued that the actions were illegal because Zuckerberg approved the acquisition amid concerns that he was competing with the successful Instagram while his company was struggling to become a mobile app, per Axios.
"I wonder if we should consider buying Instagram, even if it costs ~500m," Zuckerberg wrote in an internal email before he bought Instagram in 2012. "Right now they seem to have two things that we don't: a really good camera and a photo centric sharing network ... [Falling behind] is really scary and why we might want to consider paying a lot of money for this.
"One concerning trend is that a huge number of people are using Instagram every day," he continued. "They're only uploading some of their photos to [Facebook]."
Zuckerberg has shrugged off the characterization, stating that he was trying to determine the value of Instagram rather than actually being scared of falling behind.
The FTC also centered on arguments that Facebook's core value is to connect people with friends and family, but the CEO said the company's way of keeping people connected over the years has evolved.
"It's reached a point where the vast majority of the experience is more around exploring your interests, understanding what's going on around the world, entertainment," he said.
Zuckerberg is expected to continue testifying in court on Tuesday. The whole trial is expected to take two months. If Meta loses the case, Zuckerberg could be forced to sell Instagram and WhatsApp.
Misty Severi is a news reporter for Just The News. You can follow her on X for more coverage.