Social media titan Mark Zuckerberg testified for a second day Tuesday in a landmark US antitrust trial, defending his conglomerate Meta against accusations it took over Instagram and WhatsApp to devour budding competitors.
The federal court trial in Washington has dashed Zuckerberg’s hopes that the return of President Donald Trump to the White House would see the government let up on the enforcement of antitrust law against Big Tech.
Federal Trade Commission (FTC) attorney Daniel Matheson showed Zuckerberg emails from 2012 in which Facebook’s former chief financial officer listed possible reasons for buying start-ups like Instagram, including “neutralizing a competitor.”
Zuckerberg sidestepped commenting on the role of competitive pressure, instead playing up the ability of Facebook to improve features, user numbers and revenue.
“Instagram integration ended up going very well; we were able to add way more value to Instagram than we would have expected,” Zuckerberg testified.
“After that, we basically felt more confident that we could identify other social apps, potentially acquire them and grow them faster (than they would have on their own).”
Zuckerberg said he believes that if Snapchat had accepted Facebook’s buyout offer in 2013 it would now have billions of users.
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