Home Metaverse Meta’s metaverse ambitions in jeopardy due to FTC challenges within unlimited takeover – Meta Platforms (NASDAQ:META)

Meta’s metaverse ambitions in jeopardy due to FTC challenges within unlimited takeover – Meta Platforms (NASDAQ:META)

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Meta’s metaverse ambitions in jeopardy due to FTC challenges within unlimited takeover – Meta Platforms (NASDAQ:META)

Source: news.google.com

The US Federal Trade Commission said Meta Platforms Inc GOAL crushed the competition when it stopped plans to create its own virtual reality fitness app and opted to buy Inside Unlimited Inc. instead, Bloomberg reports.

The FTC said the acquisition would prevent the tech giant from entering the space through local technology, denying consumers the benefit of adding another competitor to the market.

The FTC said that prior to the settlement, the Within team expected Meta to try to enter the market for dedicated fitness apps.

Also read: CMA orders Meta to sell Giphy as deal failed to satisfy antitrust concerns

Meta had already hired Within’s product manager. Therefore, the startup developed competitive strategies for its Supernatural app “with the spectrum of the potential of Meta…

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