Connect with us

News

Facebook fined 520 crores, the whole matter is related to Giphy

Published

on

Facebook

HIGHLIGHTS :

  • Facebook has been fined 50.5 million pounds, or about Rs 520 crore
  • Facebook has failed to provide complete information about the acquisition of Giphy.
  • Facebook is preparing for its re-branding

Facebook has been fined 50.5 million pounds, or about Rs 520 crore, by the UK’s competition regulator. This fine has been imposed on Facebook for violating the order of the regulator during the investigation after the purchase of GIF platform Giphy. The Competition and Markets Authority (CMA) has said on this matter that Facebook has done this intentionally. It is mandatory to impose a fine on him and warn him because no company is above the law.

Facebook plans to change its name as it becomes more than a social media company

Facebook has failed to provide complete information about the acquisition of Giphy.

The regulator says that Facebook has failed to provide complete information about the acquisition of Giphy. In addition, Facebook has also failed to allow Giphy to operate with its platform during the investigation. The regulator said that Facebook did not provide necessary information regarding the acquisition of Giphy, despite repeated warnings about it.

Facebook is preparing for its re-branding

According to the report, Facebook is preparing for its re-branding. The new name of Facebook may be announced next week. Facebook CEO Mark Zuckerberg can announce the new name of the company at an event to be held on October 28. Apart from the Facebook app, there can also be big announcements regarding the names of other products of the company like Instagram, WhatsApp, Oculus, etc., although no official comment has been made by Facebook on this report yet.

The regulator says that Facebook has failed to provide complete information about the acquisition of Giphy. In addition, Facebook has also failed to allow Giphy to operate with its platform during the investigation.

This is not the only loss facebook si bearing, in fact recently at the beginning of October, it got a huge backlash.

The reason was obvious that all WhatsApp, Instagram, and Facebook have gone down in several parts of the world, users reported on Monday evening. A number of people have reported that the instant messaging platform and the social media applications are not working for them on Android, iOS, and web platforms

Also read :

Facebook Messenger Introduces New AR Group Effects for Video Calls and Rooms

Free Fire Elite Pass Season 42 expected to release on November 1: Check details

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright © 2020 - 2021 TechZimo.com, All rights reserved.