Saturday, August 24

Facebook has abandoned plans to buy a competitor social network because of fears of violations of antiproprietary laws

According to the New York Times, Facebook has considered acquiring the Houseparty video chat app but abandoned the deal last year due to concerns surrounding the increased antimonopoly surveillance.

Facebook is said to have conducted many negotiations with the Houseparty but they eventually gave up the acquisition intent. The reason is because the acquisition of another social media company contains many risks with Facebook – the social network is dominated on the Internet space.

Currently, Facebook representatives have not yet made any comments about this information.

Houseparty allows users to video chat with multiple users at the same time and is popular among people under the age of 24. The company was acquired in February 6 by the maker of Fortnite as Epic Games in an undisclosed amount.

The above information is given after Facebook and other experts in Silicon valley face the antitrust surveillance that is growing from Washington and elsewhere in the world. The previous month, the Department of Justice announced that it would open an extensive antiexclusive assessment of online platforms that dominated Internet search, social media, and retail services.

Additionally, Facebook disclosed in its latest financial statements that the Federal Trade Commission opened a new poll on the company due to anti-monopoly concerns.