Facebook, one of the largest social media platform companies in the world, continues to be on the agenda with the events that happened to it. The company founded by Mark Zuckerberg; Facebook is the world’s largest social media network with WhatsApp, Instagram and Messenger applications. So much so that, according to the statement made in the past months, the number of monthly users on their platform has exceeded 3.5 billion.
Facebook has been in trouble for irregularities in some of its agreements for change and development. At a time when the company is facing increasing pressure from the US government over its business practices, news of the fines from the UK puts Mark Zuckerberg in a very difficult position.
Big penalty from CMA to Facebook!
Last year, Facebook bought Giphy, one of the largest GIF platforms, for $ 400 million. The UK Competition and Markets Authority (CMA) launched a review following this agreement. CMA said Facebook had to get their approval before buying. The company that did not heed these warnings was penalized. CMA fined Facebook $69.6 million.
An official from the CMA said, “This is the first time we have witnessed a company deliberately fail to provide the information requested by the CMA. ” said. He also emphasized that Facebook insisted on not providing the necessary information despite the warnings.
After the sentence, the answer came from the Facebook wing. A company spokesperson said, “We, as Facebook, approached the situation in good faith, we strongly disagree with the unfair decision of the CMA. ” Said.
The punishment is not limited to this reason alone. The company fined $690,000 for changing its compliance chief twice without the CMA’s approval. Do you think Facebook is right in its thesis? Is punishment the right decision? You can share these and similar opinions about Facebook with us in the comments section. .
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