The Competition and Markets Authority criticized the acquisition of the GIF-sharing platform allows the giant to 'increase its already significant market power by denying or limiting other social media platforms’ access to Giphy GIFs, thereby pushing people to Meta-owned sites,' while also affecting the advertising market.
must sell GIF-sharing platform Giphy to avoid potential harm to consumers and marketers, Britain’s competition watchdog confirmed in a final ruling on Tuesday.
The Competition and Markets Authority found that “Meta’s takeover of Giphy could allow Meta to limit other social media platforms’ access to GIFs, making those sites less attractive to users and less competitive.” It also found that “the deal has removed Giphy as a potential challenger in the U.K. display advertising market, preventing U.K. businesses from benefiting from innovation in this market.
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