The commission has contacted third parties that could aid in the investigation as it tries to understand competitive dynamics, BloombergFacebook and the FTC declined to comment. The agency’s scrutiny of Facebook’s acquisitions was reported earlier by the Wall Street Journal.
Facebook has made dozens of acquisitions over the years, though only a handful are well known. In 2014, it bought WhatsApp for $19 billion before picking up Oculus, a maker of virtual reality headsets, for $2 billion just a month later. Virtual reality hasn’t captured a mainstream audience the way Facebook hopes it will, but WhatsApp has taken off. While it still doesn’t generate big profits for Facebook, it’s amassed more than 1.5 billion users around the world.
“How long is this going to go on?” Feld said. “How expensive is it going to be and how much is this going to cramp your style?”
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