BEIJING, Oct. 31 (Ap) – Facebook’s acquisition of Instagram has drawn criticism, and even more so, U.S. antitrust enforcers said they should have blocked the deal, Bloomberg reported. On Wednesday, Facebook CEO Mark Zuckerberg tried to dispel those discords again.
Zuckerberg told investors that when it bought Instagram in 2012, it did not pose a real competitive threat to Facebook, which itself made Instagram a resource.
“I know that in terms of the good developments so far, looking back at the past, it’s not easy to look back at where we were when we were acquired,” Zuckerberg said on the company’s earnings conference call. “
That’s what Facebook must convince the Federal Trade Commission, which is investigating whether the company violated antitrust laws. One question the FTC is investigating is whether Facebook’s acquisition constitutes an attempt to stifle competition by eliminating potential competitors.
Some argue that the FTC should have blocked the acquisition of Instagram, which poses a real threat to Facebook’s absolute position in social media. All Facebook has to do now is prove that Instagram was not a threat at the time. That’s one thing Zuckerberg also highlighted in his earnings conference call. He added that Instagram had only 30 million users at the time, and many other competitors.
The FTC was clear at the time.
“I’ve set a goal, and we hope that one day, Instagram users will have more than 100 million, and I know that from the current results, that’s a strange goal. But keep in mind that Instagram had a lot of similar products and it was growing fast, but most of them no longer exist today,” Zuckerberg said. “
Instagram users surpassed 100 million in February 2013.