It’s entirely unusual for so many people to voluntarily relinquish so much private information. As well, FaceBook has deliberately deceived many people with their (lack of) “privacy” policy. In this information era, people are becoming the commodity. But, it’s always been true, that if you don’t want folks to know about it, don’t share it.
Probe may delay Facebook Instagram deal
May 10, 2012 7:13 pm
By April Dembosky in San Francisco
A competition probe into Facebook’s $1bn acquisition of photo-sharing service Instagram threatens to postpone the closure of the deal beyond the second quarter, the target set by the company in its initial public offering documents.
The Federal Trade Commission has launched the investigation, according to two people familiar with the matter, and has already begun collecting information from at least one of the social network’s largest competitors. The process could also further slow Facebook’s already lagging mobile strategy.
The competition probe – routine for any deal more than $66m – is likely to take six to 12 months, according to several experts. But Facebook said in its IPO documents last month that it expected the deal to close in the second quarter.
“That’s terrifically optimistic,” said David Balto, a former policy director at the FTC who now works as an anti-trust lawyer.
Competition experts expect that the Instagram merger will ultimately be approved, but they believe regulators will apply close scrutiny to the deal because of the steep price that Facebook paid and the high profile of the companies.
“They’re going to want to take some months to investigate and understand the market and other players,” Mark Lemley, a professor at Stanford Law School, said. “And there may be more parties with an interest in submitting information.”
Facebook has acknowledged that Read the rest of this entry »