EU fines Meta €800 million for breaking law with Marketplace

During her tenure, Vestager has repeatedly targeted the world’s biggest tech companies, with some of the toughest actions against tech giants such as Apple, Google and Microsoft.

The EU Commission on Thursday said Meta is “dominant in the market for personal social networks (…) as well as in the national markets for online display advertising on social media.”

Facebook Marketplace, launched in 2016, is a popular platform to buy and sell second-hand goods, especially household items such as furniture.

Meta has argued that it operates in a highly competitive environment. In a post published on Thursday, the tech giant said marketplaces in Europe continue “to grow and dominate in the EU,” pointing to platforms such as eBay, Leboncoin in France, and Marktplaats in the Netherlands, as “formidable competitors.”

Meta’s fine comes at a period of political transition both in the EU and the US.

Brussels officials have been aggressive both in their rhetoric and their antitrust probes against Big Tech giants as they sought to open markets for local start-ups.

In the past five years, EU regulators have also passed a landmark piece of legislation—the Digital Markets Act—with the aim to slow down dominant tech players and boost the local tech industry.

However, some observers expect the new commission, which is set to start a new 5-year term in weeks, to strike a more conciliatory tone over fears of retaliation from the incoming Trump administration.

© 2024 The Financial Times Ltd. All rights reserved Not to be redistributed, copied, or modified in any way.