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Facebook says the finding lacks evidence.— Brian Fung (@b_fung) August 12, 2021
"This merger is in the best interest of people and businesses in the UK - and around the world - who use GIPHY and our services. We will continue to work with the CMA to address the misconception that the deal harms competition."
Obviously it's just a summary of provisional findings but some of it is faintly ridiculous.— Sam Bowman (@s8mb) August 12, 2021
This is from Giphy's own (pre-merger) internal documents – is it *possible* that they might not be the most objective judges of the unique value of GIFs in advertising? pic.twitter.com/PvChbBDCdD
This stood out to me in the CMA provisional findings to block the Facebook/Giphy merger: it describes massive services like Snapchat and Tiktok as FB's rivals, but is concerned about the loss of potential display ad competition from Giphy, which has no display ad business at all? https://t.co/A25SKEyuh9 pic.twitter.com/qzRFbrXeIP— Sam Bowman (@s8mb) August 12, 2021
Potential competition often "proves too much".— Sam Bowman (@s8mb) August 12, 2021
If Facebook faces potential competition from Giphy, then it must also face potential (or actual) competition from Tiktok, Twitter, Youtube, etc, which should make the loss of Giphy's potential competition pretty trivial.
Facebook said it was going to buy Giphy 15 months ago. My understanding was that Giphy was running out of money and the deal was very favorable to Facebook.— Alex Heath (@alexeheath) August 12, 2021
It hasn’t and now may not close cause antitrust. Amazing.
Britain might require Facebook to sell GIF website Giphy after the country's competition regulator said its investigation found the deal between the two companies would hurt the display advertising market https://t.co/XpbkKoWHtN pic.twitter.com/f20o9psLMc— Reuters Business (@ReutersBiz) August 12, 2021
💻 We’ve provisionally found that Facebook’s takeover of Giphy will negatively impact competition between social media platforms and remove a potential challenger in the display advertising market.— Competition & Markets Authority (@CMAgovUK) August 12, 2021
Read more: https://t.co/qVX9cxOJg4 pic.twitter.com/UGYxtxrupe
Our investigation has provisionally found that Giphy was considering expanding its advertising services to other countries, including the UK, before its takeover. This would have brought a new potential challenger to Facebook in this market.— Competition & Markets Authority (@CMAgovUK) August 12, 2021
Read more: https://t.co/XRDzZ0U6ec
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