The European Commission has fined Meta Platforms $840 million for breaching EU antitrust rules through abusive practices unfairly benefiting Facebook Marketplace.
“The European Commission has fined Meta for breaching EU antitrust rules by tying its online classified ads service Facebook Marketplace to its social network Facebook and by imposing unfair trading conditions on other online classified ads service providers,” the European Commission said Thursday.
The EU’s decision argues that Meta imposes Facebook Marketplace on people who use Facebook in an illegal “tie.”
However, Meta responded, saying EU’s “argument ignores the fact that Facebook users can choose whether to engage with Marketplace, and many do not.”
It then indicated it will appeal the decision but will comply and work to launch a solution addressing the raised points.
“We will appeal the decision, but in the meantime, we will comply and work quickly and constructively to launch a solution that addresses the points raised,” Meta said.
Meta is one of the world’s largest tech and social media companies. For the third quarter of 2024, it reported $40.5 billion in revenue, exceeding analyst expectations of $40.2 billion. Most of that revenue came from online ads.
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