The FTC will call Mark Zuckerberg to testify in the acquisition of Within Unlimited.
The Federal Trade Commission (FTC) is calling Meta CEO Mark Zuckerberg to testify in an upcoming case against the US giant. Last July, the FTC sued Menlo Park in an attempt to prevent it from buying out Within Unlimited, the company that created the VR fitness app Supernatural.
FTC to call Mark Zuckerberg to testify
Reuters reports that the agency listed at least 18 witnesses, including Mark Zuckerberg and the giant’s CTO Andrew Bosworth, in a document filed in a Northern District of California court. In addition to answering a slew of questions about this potential acquisition, the FTC intends to ask Mark Zuckerberg about Meta’s VR strategy and plans to support third-party developers, according to official documents seen by Reuters.
in the takeover case of Within Unlimited
Last July, the FTC accused the company and Mark Zuckerberg of attempting to “illegally acquire”Within. “Instead of fighting for merit, the Meta is trying to buy its way to the top,”said John Newman, deputy director of the FTC’s Bureau of Competition.
Meta started the FTC case by saying that it was based only on “ideology and speculation, not evidence.”However, this new legal episode could be another very expensive episode for a company that is still trying to convince the public and Wall Street of its vision for the future. A few days ago, Meta released its financial results: its AR and VR Reality Labs division is losing more money than ever. It lost at least $3.7 billion in the third quarter of 2022. And this trend, as CFO David Vener told investors, will continue into 2023.