The European Commission has fined Meta €797.72 million, criticizing the company for unfairly promoting its Marketplace platform at the expense of competitors in the classified ads market.
According to the European Commission, Meta is imposing unfair trading conditions, preventing other classified ads services from effectively competing, as its own Marketplace dominates Facebook.
Meta's response to the fine stated that it created Marketplace based on consumer demand, arguing the decision by the European Commission would protect existing marketplaces at the expense of competition.
The investigation concluded that Meta's behavior was detrimental to competitors, as it leverages data from advertisers for the benefit of its own Marketplace, thus solidifying its dominant market position.
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