EU Fines Meta €800 Million Over Facebook Marketplace

November 14, 2024 Advertising, European Union

Politico Europe reports:

Meta was fined almost €800 million by the European Commission for pushing its classified ads service on social media users.

The European Union executive said Meta wrongly tied Facebook Marketplace to its social network Facebook and imposed unfair terms on rival ad providers, it said in a press release. Meta was ordered to halt these practices.

The company’s actions aimed “to benefit its own service Facebook Marketplace, thereby giving it advantages that other online classified ads service providers could not match,” Competition Commissioner Margrethe Vestager said in an emailed statement.

Read the full article. That’s $845 million USD.

❗️EU Commission fines @Meta close to 800 million euros for abusing the dominant position of Facebook to boost its Facebook Marketplace product: “all Facebook users automatically have access and get regularly exposed to Facebook Marketplace whether they want it or not” pic.twitter.com/DNa4uIrNwl

— Simon Van Dorpe (@simonvandorpe) November 14, 2024