Tech

Meta is said to be facing an FTC probe over its acquisition of VR workout app ‘Supernatural’

Meta, formerly Facebook, is firmly in the hands of the FTC about various acquisitions the agency believes can be made to dominate the space and eliminate competition. Based on Information, one of the deals the Federal Trade Commission is considering is a $400 million deal get in, the developer of the popular virtual reality workout app Supernatural for the Oculus platform.

The agency is said to have opened an investigation into the acquisition after Thanksgiving, nearly a month after the companies announced the acquisition in October. If the reports are true – both the FTC and the companies company has not confirmed the regulatory review of the publication – then Within and Meta won’t be able to finalize the deal for another year. It could take even longer than that if the agency challenges it in court.

Inside isn’t the only VR app developer Meta has acquired, but the others appear to be too small to be investigated. VR fitness apps, like home workout gear, skyrocketed during the lockdown, and Supernatural quickly gained popularity following its April 2020 launch. Information note, one of the possible questions from the FTC is whether Meta plans to develop a VR workout app of its own. Meta will take less time to capture an existing product than it does to create one of its own.

The famous owner of the superstar Mark Zuckerberg speak in the past that “it’s better to buy than compete,” in relation to Facebook’s acquisition of Instagram. Recent FTC paid new antitrust fees against the company, accusing it of using the Instagram and WhatsApp acquisitions in 2012 and 2014 to secure its position in the market. Meta is still facing an investigation into its reported $400 million Buy giphy in 2020.

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https://www.engadget.com/meta-ftc-probe-acquisition-vr-workout-app-supernatural-within-125553153.html?src=rss Meta is said to be facing an FTC probe over its acquisition of VR workout app ‘Supernatural’

Tom Vazquez

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