Facebook Latest FTC Headache: Probe of Social Media Competition

Apparently, the  Federal Trade Commission opened an investigation into Facebook for possible antitrust violations, an early-stage probe that is examining competition in its oldest business -- social media. The agency has already contacted third parties that could aid in the investigation as it tries to understand competitive dynamics. Though the company has made many acquisitions and expanded into new businesses, including messaging, virtual reality and e-commerce, the FTC’s probe is focused on its most long-standing offering -- social networking. In addition to the main Facebook service, the company owns Instagram, which is the second-most popular social media app in the US. Facebook said it was alerted to the investigation in June.