Facebook must sell Giphy from British regulator

Facebook must sell Giphy from British regulator

The British Competition and Markets Authority (CMA) is demanding that Facebook sell the GIF platform Giphy. The competition authority announced this on Tuesday. The CMA believes the acquisition could harm “social media users and UK advertisers” and the deal gives Facebook too much power over other social media outlets.

For example, the company could block the use of Giphy’s short animations on competing social media, such as TikTok and Twitter, which could lead to more visits to Facebook’s own platforms. Facebook and other social media from parent company Meta account for 73 percent of the time British people spend online in the United Kingdom. For example, on Whatsapp, users can add animated Giphy images.

Facebook announced in May 2020 that it would acquire Giphy, a gif animation database. The CMA started an investigation into the acquisition in June 2020 and already announced last August that it was considering letting the American tech company sell the poison platform again.

Meta, the parent company of Facebook, has said it does not agree with the decision, Reuters news agency reported. The company plans to appeal the claim. Just over a month ago, Facebook was fined more than 50 million British pounds (almost 60 million euros), to be paid to the British regulator, because the company had broken various rules in the takeover process with Giphy.

Facebook must sell Giphy from British regulator
Source link Facebook must sell Giphy from British regulator

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