Meta CEO Mark Zuckerberg reportedly offered the Federal Trade Commission (FTC) nearly $1 billion to settle an antitrust case out of court.
The FTC is attempting to force Meta to sell Instagram and WhatsApp, alleging anticompetitive business practices. Zuckerberg initially offered $450 million, later increasing it to nearly $1 billion, but the offer was rejected.
The FTC argues Meta illegally dominates the personal social-networking market by buying up competitors like Instagram in 2012 for $1 billion and WhatsApp in 2014 for $22 billion.