Zuckerberg Reportedly Testified This Week for the FTC

Posted on the 21 August 2020 by Thiruvenkatam Chinnagounder @tipsclear

Facebook CEO Mark Zuckerberg reportedly testified at a Federal Trade Commission antitrust hearing this week. His virtual testimony lasted two days, according to a report from Politico on Thursday.

"We are determined to work with the US Federal Trade Commission investigation and answer the agency's questions," a Facebook company spokesperson told CNET in a statement it emailed.

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The news comes from a report in the Wall Street Journal last month Sheryl Sandberg, COO of Zuckerberg and Facebook, could be asked by the FTC to make an affidavit as part of an investigation by the agency.

Facebook said last year that the FTC is investigating the company on antitrust matters. According to reports, the FTC is considering whether Facebook's $ 1 billion purchase of Instagram and $ 19 billion acquisition of WhatsApp were strategies to stifle competition and maintain dominance.

Emails last month showed that Zuckerberg saw Instagram as a potential competitive threat before acquiring the social media platform. The emails were received during a antitrust hearing with the House's Justice Antitrust Subcommittee, where not only Zuckerberg testified, but Jeff Bezos, CEO of Amazon, Tim Cook, CEO of Apple, and Sundar Pichai, CEO of Alphabet.

The FTC did not immediately respond to a request for comment.

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