Mark Zuckerberg was questioned by American congress at House antitrust hearing on Wednesday for breaking antitrust law and predatory business practice of acquiring Instagram and WhatsApp to remove competition.
US lawmakers are investigating the acquisition of WhatsApp and Instagram by Facebook. In this investigating process, they managed to get some old emails of 2012, the year when Instagram was merged.
An email was sent to senior employees of Facebook by Mark Zuckerberg to inform about the deal of acquisition of Instagram getting final. Then an employee replied on this mail to Mark and wrote, “Well Played.” After that, Mark also replied to that employee and said we can buy any competitive startup but it will take a while to buy Google.
When a congressional representative Joe Neguse asked about their intention to acquire Google and recalls about the mail that he wrote to his employee, Mark took a U-turn and said, “Congressman, I don’t specifically, but it sounds like a joke.”
Pointing the context of that mail, Joe Neguse said, “I don’t take it as a joke.” As it was sent after the deal of Instagram and shows their strategy to how they deal with competitors and their plans or intention to buy Google.
Can Facebook buy Google?
Facebook’s market value is between $660-700 billion and Google’s parent company Alphabet’s market value is above $1 trillion. So the difference is clear that Google has edge over Facebook in terms of market capitalization. Currently both companies are growing and there is no chance for Facebook or even Google to buy each other.