Facebook Marketplace in EU, UK, Antitrust Crosshair Against Use of Classified Advertising Data

The European Union (EU) and the United Kingdom have launched an antitrust investigation into the use of advertising data by Facebook.

The European Commission and the Competition and Markets Authority of the United Kingdom Facebook Use data from advertisers to compete with advertisers.

Establishment of European Competition Commission Marguerite VestergerThe first antitrust investigation into the world’s largest social network shows her latest battle with one of the tech giants in the United States. An EU investigation confirmed that a person familiar with the situation told Reuters on May 26.

Vestager has fined € 8 billion (approximately Rs 70,720 million). Alphabet unit Google Is also under investigation Amazon And Apple..

Vestager zooms in on Facebook’s vast amount of data collected from nearly 7 million companies advertising on Facebook.

“Details on whether this data gives Facebook an undue competitive advantage, especially in the area of ​​online classified advertising, where people buy and sell products every day and Facebook competes with the companies that collect the data. “We’ll look,” she said .. “In today’s digital economy, data shouldn’t be used in a way that distorts competition,” Vestager said. The UK Competition and Markets Authority has also announced that it will conduct its own investigation into whether networks are exploiting their dominant position in social media or digital advertising through the collection and use of data.

Facebook said it would fully cooperate with the EU and UK investigations “to prove that there is no benefit.”

“Markets and dating offer people more choice, and both products operate in a highly competitive environment with many large incumbents,” the company said.

© Thomson Reuters 2021

Interested in cryptocurrencies? Discuss all about cryptocurrencies with WazirX CEO Nischal Shetty and Weekend Investing founder Alok Jain. Orbit, Gadget 360 Podcast. Orbitals are available at: Apple podcast, Google podcast, Spotify, Amazon music Wherever you can get a podcast. Facebook Marketplace in EU, UK, Antitrust Crosshair Against Use of Classified Advertising Data

Back to top button