Meta Platforms Inc. has announced plans to feature listings from its competitor eBay Inc. on Facebook Marketplace. This initiative comes in response to a significant antitrust order issued by the European Union, which was accompanied by a hefty fine of EUR 798 million (approximately $822 million or Rs. 7,061 crore).
On Wednesday, the California-based company revealed that it will initiate a trial in Germany, France, and the United States. This trial will allow users to view eBay listings directly on Facebook Marketplace while completing transactions through eBay’s platform.
In a blog post detailing the changes, Meta expressed its disagreement with the EU’s ruling and confirmed plans to contest the decision in European courts. Following the announcement, eBay’s stock experienced a notable rise, increasing by 7.4 percent by 9:19 a.m. during trading in New York.
These adjustments from Meta aim to adhere to the EU’s directive issued in November, which mandated the company to discontinue the practice of integrating its classified-ads service with the extensive Facebook platform. Additionally, the order sought to prevent Meta from imposing unfavorable trading conditions on competing second-hand goods marketplaces.
A spokesperson for the European Commission highlighted that Meta is required to comply with the decision within 90 days of its initial issuance.
The significant fine associated with this order was part of the EU competition policy efforts led by former competition chief Margrethe Vestager, who was known for her rigorous stance against Big Tech. During her tenure, she oversaw the imposition of billions in antitrust fines against major American technology firms, including over EUR 8 billion targeted at Alphabet Inc.’s Google.
Moreover, the scrutiny of Facebook Marketplace was also a point of focus for the UK’s Competition and Markets Authority, which ultimately opted to accept concessions from Meta rather than continue with its investigation.
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