In an attempt to appease the European Union (EU) and its antitrust investigation, Meta Platforms has made an offer to curb the use of competitors’ advertising data for its Facebook Marketplace online classified service.
According to Reuters, Meta’s offer includes limiting the use of advertising data to develop products that compete with advertisers. This is an attempt to counter EU’s charges against the company’s alleged misuse of market power.
“Meta Platforms offered to curb the use of competitors’ advertising data for its Facebook Marketplace online classified service in an attempt to settle an EU antitrust investigation,” a source stated. “Meta’s offer also included limiting the use of advertising data to develop products that compete with advertisers.”
Meta had earlier contested the EU’s charges brought against it in a closed hearing during the month of February. The charges had alleged that Meta had engaged in two practices such as tying its online classified service to its social network and imposing unfair trading conditions on online classified services that advertise on Facebook or Instagram.
The United Kingdom (UK) enforcer in a preliminary view has said Meta’s offer addresses its concerns. Their offer, however, suggests that the company may have to do more if it wants to stave off a possible fine.
“Meta’s proposal suggests that the company will have to do more to counter the EU watchdog’s charges if it wants to stave off a possible fine,” another source said. “The UK enforcer in a preliminary view has said Meta’s offer addresses its concerns.”
It still remains to be seen if Meta’s offering is enough to convince the EU and its regulator to put an end to the investigation. It is likely that more measures will have to be taken by Meta to ensure the satisfactory resolution of the case.