Zuckerberg, in FTC trial, says Meta is focused on building communication apps


© 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.

Source link


News 7D: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button