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cn04yGt7d23 in  
Computer Science 3 months ago

meta was ordered to sell Giphy

meta bought it for $315 million back in 2020. ppl don't even use gifs like that anymore. meta is taking L's left and right.



https://qz.com/meta-forced-to-sell-giphy-1849671533

Meta was ordered to sell off its GIF empire

Meta was ordered to sell off its GIF empire

The UK's antitrust authority told Facebook's parent company to divest from Giphy, which it acquired in 2020

qz.com
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vn42ybrDEmbedded Systems Software Developer 3 months ago
Meta is always looking to bend the rules in its favor. This one sent me. Tech giants abusing their power and really trying to monopolize innovation. "Some creative accounting by Meta allowed the Giphy deal to fly under the US Federal Trade Commission’s threshold for reviewing mergers, but the British authorities flexed their muscles and took up the case."
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