Friday, May 7, 2021

With IPO Just Days Away, Facebook Faces FTC Probe

Washington Post: Unnamed sources say that antitrust investigators from the Federal Trade Commission (FTC) are looking into Facebook’s acquisition of Instagram. The FTC routinely examines deals worth more than $66 million; since Facebook paid $300 million for Instagram, it’s no surprise that they’ve attracted the eyes of regulators. However, with Facebook’s IPO scheduled for just eight days from now, the timing of the investigation is bad for the social networking giant.

The investigation could delay (or prevent) the close of the Instagram deal. It’s not known if the FTC probe will impact the timing of Facebook’s IPO.

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