Facebook co-founder calls for company breakup, U.S. lawmakers chime in
WASHINGTON - Facebook Inc quickly rejected a call from co-founder Chris Hughes on Thursday to split the world’s largest social media company in three, while lawmakers urged the U.S. Justice Department to launch an antitrust investigation.
Facebook’s social network has more than 2 billion users across the world. It also owns WhatsApp, Messenger and Instagram, each used by more than 1 billion people. Facebook bought Instagram in 2012 and WhatsApp in 2014. U.S. Senator Richard Blumenthal, a Democrat, told CNBC he thinks Facebook needs to be broken up and that the Justice Department’s antitrust division needs to begin an investigation.
“The government must hold Mark accountable. For too long, lawmakers have marveled at Facebook’s explosive growth and overlooked their responsibility to ensure that Americans are protected and markets are competitive,” he said.Senator Elizabeth Warren, a Democratic presidential candidate, in March vowed to break up Facebook, Amazon.com Inc and Alphabet Inc’s Google if elected U.S. president to promote competition in the tech sector.
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