The European Commission earlier cited Facebook's Marketplace service as a violation of market monopoly.Fine Meta €7.9712 million (approximately US$8.42 million) in fines.
The reason for determining that the Marketplace service violates market monopoly is that this service is tied to Facebook and requires other online classified advertising service providers to cooperate with unfair trading conditions. Therefore, Meta is deemed to have abused its market dominance to give its services a higher chance of exposure on the Internet.
In addition, the European Commission pointed out that Meta's services on Facebook and Instagram can obtain relevant data from other advertising service providers, allowing its services to place advertisements based on more accurate information.
The amount of the fine is calculated based on the duration and extent of the violation, as well as Meta's revenue. The European Commission also requires Meta to cease its current service practices and not to use the same or similar practices to affect market competition.
However, Meta said it would appeal and stressed that the European Commission ignored the current scale of online classified advertising in Europe, and that Facebook's Marketplace service only accounted for a part of the entire advertising market.
In addition to the Marketplace service being accused of violating market monopoly, Meta was also previouslyPaid subscription plans implemented in EuropeInvolving violations of digital market laws.
