The European Commission has fined Meta €797.72 million for violating competition through Facebook and Marketplace

The European Commission has fined Meta €797.72 million for violating competition rules.

Here's What We Know

The investigation revealed that the company imposed the Marketplace service on Facebook users, while creating unfair conditions for competitors in the online advertising sector.

The EC claims that Meta used advertisers' data in its own interests to promote the Marketplace. This allowed the company to dominate the social media and display advertising markets. The fine takes into account the duration of the violation and the service's turnover.

Meta was ordered to stop this practice and refrain from repeating it.

Meta plans to appeal the decision, insisting that users decide for themselves whether to use the Marketplace. The company also denies accusations of using competitors' data for its own benefit.

Source: European Commission