Zuckerberg Defends Meta's WhatsApp, Instagram Acquisitions
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Mark Zuckerberg testified in a US FTC antitrust lawsuit against Meta, defending the acquisitions of WhatsApp and Instagram. He argued that he bought WhatsApp to adapt to shifting communication trends and leverage against Apple and Google, while Instagram's acquisition was to prevent potential future competition. Zuckerberg claimed both acquisitions were strategic investments that significantly exceeded expectations, generating billions in revenue. Former Meta COO Sheryl Sandberg admitted she initially thought the Instagram acquisition price was too high, later conceding she was wrong.
Mark Zuckerberg testified in a US FTC antitrust lawsuit against Meta, defending the acquisitions of WhatsApp and Instagram. He argued that he bought WhatsApp to adapt to shifting communication trends and leverage against Apple and Google, while Instagram's acquisition was to prevent potential future competition. Zuckerberg claimed both acquisitions were strategic investments that significantly exceeded expectations, generating billions in revenue. Former Meta COO Sheryl Sandberg admitted she initially thought the Instagram acquisition price was too high, later conceding she was wrong.
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