© Reuters. FILE PHOTO: Facebook President and CEO Mark Zuckerberg speaks during the annual Munich Security Conference in Germany, February 15, 2020. REUTERS/Andreas Gebert
By Katie Paul and Diane Bartz
SAN JOSE/WASHINGTON (Reuters) – Mark Zuckerberg, the boss of Meta Platforms, said the company is focused on building media apps and developer platforms, speaking Tuesday at a meeting high-level test of the future of the budding metaverse business.
Wearing a blue suit, white mask and glasses, Zuckerberg appeared in federal court in San Jose, California, to defend Meta’s acquisition of virtual reality app developer Inside.
Within the first few minutes, he was questioned by Federal Trade Commission officials, who asked him about an email he wrote in 2015 in which he said he expected Meta builds “most software applications and services” for the virtual reality industry.
The FTC sued the owners of Facebook (NASDAQ:) and Instagram in July to block the deal, saying its “campaign to conquer VR” began in 2014 when it acquired Oculus, the home of Oculus. manufactures VR headsets. It accused Meta of trying to buy his way to dominance in the metaverse.
Inside Supernatural has grown, it advertises as a “complete fitness offering” with “beautiful destinations” and “the best music-driven workouts available.”
Meta is fighting a global, multi-industry war against regulators over its dominance in various markets. The European Commission on Monday said it had warned Meta it was violating EU antitrust law by distorting competition in online classified advertising and abusing its dominant position.
Meta shares were up 1.7% in afternoon trading at $116.53 a share.