Meta Fined £1.5 Million For Not Disclosing Data In Giphy Deal
The UK competition regulator has fined Meta £1.5 million for not properly disclosing the resignation of three key employees regarding the Giphy deal. Meta acquired Giphy in 2020 for $400 million, which was soon countered by the UK regulator, as it may disturb the competition among social media platforms and the local advertising market. While Facebook is fighting that, the regulator is fining and discouraging the deal. UK Fining Meta For Irregularities Facebook changing the name to Meta hasn’t changed anything much....