Official announcements from the European Commission or Meta Platforms

European Commission Fines Meta €797.72 Million for Abusing Dominant Position with Facebook Marketplace

Nov 14, 2024, 02:13 PM

Meta Platforms, the parent company of Facebook, was fined €797.72 million ($840 million) by the European Commission for antitrust violations involving its Facebook Marketplace service. The Commission found that Meta abused its dominant position by tying Facebook Marketplace to its social network, Facebook, and imposing unfair trading conditions on rival websites. By automatically giving Facebook users access to Marketplace, Meta allegedly shut out competitors and distorted competition. This is Meta's first EU antitrust fine. The company plans to appeal the decision, arguing there was no evidence of harm to consumers or competitors.