Facebook Wants to Compete With Everyone
As Facebook (NASDAQ: FB) continues to face antitrust scrutiny and grapple with calls that it should be broken up, the social networking behemoth wants to get even bigger. Through ruthless competition and aggressive acquisitions, Facebook has transformed from a single tech platform into a sprawling conglomerate, operating most of the world's largest social networking services including WhatsApp and Instagram.
In defending Facebook from antitrust criticisms in front of Congress in early 2018, CEO Mark Zuckerberg said that the "average American I think uses eight different communication and social apps," suggesting that competition in the marketplace is robust and everything is fine. What His Zuckness did not mention is that Facebook either owns most of those apps, or is actively trying to supplant them by developing clones.
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Source Fool.com
