The Federal Trade Commission (FTC) has approved of the $19 billion acquisition of WhatsApp by Facebook Inc (NASDAQ:FB). However, the FTC warned that WhatsApp will have to keep its pre-Facebook level of privacy in place, according to InsideFacebook.
Federal Trade Commission Posts
The three founders of Napster are Shawn Fanning, Sean Parker, and John Fanning. Parker was the founding president of Facebook and now runs a startup called Airtime. Shawn Fanning co-founded Path and is involved in several other projects, including Airtime. John Fanning, the uncle of Shawn, started a company called Jerk.com, which has now landed in hot water.
When Facebook Inc (NASDAQ:FB) announced it was acquiring WhatsApp for $19 billion, it was expected that there would be some opposition. A privacy advocacy group is asking regulators at the Federal Trade Commission (FTC) to block the deal. The advocacy group wants to get a better idea of what Facebook plans to do with the private data of the existing members of WhatsApp.
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Around three years ago, the Federal Trade Commission (FTC) started investigating the way that Apple Inc. (NASDAQ:AAPL) in-app purchases worked. Children being able to buy in-app purchases without permission from parents was very simple back then. In a few circumstances, children ran up to hundreds and even thousands of in-app virtual goods. Apple has agreed to pay $32.5 million as part of a settlement.
The Federal Trade Commission (FTC) claims that GeneLink has made false claims not based on science and has not protected consumer information. GeneLink Biosciences is a personal genetics company that is similar to 23andMe. GeneLink analyzed DNA and sent back nutritional supplements based on your genome. GeneLink promised that the supplements were good for helping with heart disease, insomnia, etc.
Google, BlackBerry, EarthLink, and Red Hat Sends Comments To The FTC and DOJ Around “Patent Troll” Issues
Matthew Bye, the Senior Competition Counsel at Google, has reported that Google has submitted comments with BlackBerry, EarthLink, and Red Hat to the Federal Trade Commission (FTC) and the Department of Justice (DOJ) about the growing harm that is caused by “patent trolls.” Google was encouraged by the recent attention on the problems that patent trolls cause, which is estimated to be around $30 billion per year according to a Boston University law study. Patent trolls hurt consumers and they stifle innovation.
According to the Federal Trade Commission, Google has not violated any antitrust laws. However the company has agreed to make some changes in how rivals are treated. The antitrust probe has been going on for the last 19 months. The FTC’s investigation was specifically focused on whether Google abused their dominance in Internet search. Google’s rivals complained that the company highlights their own services and burying the results to competing websites.