Facebook tried to buy a mystery competitor multiple times and failed - Business Insider

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Facebook tried and failed multiple times to acquire a mystery competitor that wasn't Twitter or Snapchat, according to the FTC's new lawsuit

saying, "We face competition in every aspect of our business. That was true before the acquisitions of Instagram and WhatsApp and remains true today."

"Now, many years later, with seemingly no regard for settled law or the consequences to innovation and investment, the agency is saying it got it wrong and wants a do-over," Facebook wrote in a statement. "This is simply not how the antitrust laws are supposed to work." Facebook did not immediately respond to a request for comment by Business Insider on the unnamed acquisition target.Your morning cheat sheet to get you caught up on what you need to know in tech. Sign up to 10 Things in Tech You Need to Know Today.By clicking ‘Sign up’, you agree to receive marketing emails from Business Insider as well as other partner offers and accept our

 

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