Facebook faces extended US review of Instagram deal
May 29, 2012
Apparently, Facebook has received notice that the Federal Trade Commission will give its proposed purchase of the popular photo-sharing app maker Instagram a lengthy investigation.
Facebook has received a "second request" from the FTC, essentially a request for relatively large amounts of data that the regulators will sift through to ensure that the deal complies with antitrust law. A prolonged review adds another headache to the No. 1 social network. The purchase of the photo-sharing service on the Internet is a crucial part of Facebook's strategy to bolster its mobile offerings at a time when consumers are increasingly accessing the Internet through smartphones.
Facebook faces extended US review of Instagram deal