FTC Highlights Zuckerberg's $6B Snapchat Offer in Meta Antitrust Trial

During Meta's ongoing antitrust trial, CEO Mark Zuckerberg's failed $6 billion bid to acquire Snapchat in 2013 has resurfaced as a central example of the company's strategy to maintain dominance by acquiring potential rivals rather than competing directly. Zuckerberg testified that he believed Snapchat would have grown faster under Meta's ownership, but acknowledged that Snapchat remains a 'meaningful competitor.' The Federal Trade Commission (FTC) presented this failed acquisition attempt, along with Meta's past purchases of Instagram and WhatsApp, to support its argument that Meta sought to 'buy or bury' competitors and stifle innovation. Snap spokesperson Monique Bellamy countered that such anticompetitive behavior from dominant companies can hinder the growth of startups, citing Meta's repeated attempts to copy Snapchat's features following the rejected buyout. The FTC is seeking remedies that could include forcing Meta to divest Instagram and WhatsApp if found in violation of antitrust laws. The outcome of the trial could significantly reshape the competitive landscape for social media platforms.