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Zuckerberg: Snapchat would have grown faster if it accepted $6B buyout offer
During Meta's antitrust trial this week, Meta CEO Mark Zuckerberg said that Snapchat would have grown faster if it accepted his company's offer to buy the
In response to questioning from an FTC attorney, Zuckerberg said he thought Snapchat “wasn’t growing at the potential that it could” and that his company would have improved the app. The government brought up the failed acquisition attempt to support its argument that Meta aims to preserve its dominance in the social media landscape by acquiring rivals, rather than competing with them directly. The FTC is looking to force Meta to restructure or sell Instagram and WhatsApp, arguing that the company spent billions to acquire the apps to fend off Facebook competitors, creating an illegal monopoly.
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