Meta asked the Federal Trade Commission to dismiss its complaint about its acquisition of Within

Share via:

Meta has asked the Federal Trade Commission to dismiss its complaint about its acquisition of Within. Supernatural, a rhythm game-turned-workout app created by the Los Angeles virtual reality firm, is a legitimately excellent use of VR in our opinion. It’s understandable why Meta wants to buy the company, but the FTC is concerned that it may be an anticompetitive acquisition.

Despite the FTC’s complaint, Meta filed a request in the Northern District of California court to proceed with the transaction. The FTC initially claimed that the acquisition would reduce competition in the VR fitness market. “Meta already participates in this broader market with its Beat Saber app, as does Within with its premium rival app Supernatural,” the agency wrote. The two companies are currently competing against each other to add new features and attract more users, a competitive rivalry that would be lost if the acquisition were allowed to proceed.” The FTC, however, filed a new complaint last week that removed these allegations.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Popular

More Like this

Meta asked the Federal Trade Commission to dismiss its complaint about its acquisition of Within

Meta has asked the Federal Trade Commission to dismiss its complaint about its acquisition of Within. Supernatural, a rhythm game-turned-workout app created by the Los Angeles virtual reality firm, is a legitimately excellent use of VR in our opinion. It’s understandable why Meta wants to buy the company, but the FTC is concerned that it may be an anticompetitive acquisition.

Despite the FTC’s complaint, Meta filed a request in the Northern District of California court to proceed with the transaction. The FTC initially claimed that the acquisition would reduce competition in the VR fitness market. “Meta already participates in this broader market with its Beat Saber app, as does Within with its premium rival app Supernatural,” the agency wrote. The two companies are currently competing against each other to add new features and attract more users, a competitive rivalry that would be lost if the acquisition were allowed to proceed.” The FTC, however, filed a new complaint last week that removed these allegations.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

More like this

CoreWeave to acquire crypto miner Core Scientific

SynopsisAI data center firm CoreWeave announced on Monday...

Capgemini shares drop post-WNS deal on AI impact concerns

Capgemini shares fell over 5% on Monday after...

Traders Focused on Cardano Are Now Watching a Different...

Traders focused on Cardano are turning their attention...

Popular

Upcoming Events

Truth Social? Never heard of it: Musk after Trump...

Hours after President Donald Trump took to his...

Elon Musk Backs Bitcoin in America Party Launch, Market...

The world’s richest man says Bitcoin will be...

Khetika Bags $18 Mn To Sell Preservative-Free Processed Foods

SUMMARY The round was co-led by the Narotam Sekhsaria...
iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt iptv pt
IPTV IPTV IPTV IPTV IPTV IPTV IPTV