Numlock News: October 21, 2021 • Vikings, Walruses, Giphy
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By Walt Hickey Giphy Facebook has been slammed with a £50 million ($70 million USD) fine from the U.K. Competition and Markets Authority after it failed to provide the regulator with information about its acquisition of gifmonger Giphy for $400 million last year. The watchdog thinks that it could raise competition concerns on digital advertising, and Facebook has refused to report all the required information in what the agency describes as a first. The agency also dinged Facebook for another £500,000 after it changed its chief compliance officer twice without consent from the regulator. While a huge, unprecedented breach in the eyes of the Authority, I estimate it’s currently ranked the 87th most significant problem Facebook has right now.
Numlock News: October 21, 2021 • Vikings, Walruses, Giphy
Numlock News: October 21, 2021 • Vikings…
Numlock News: October 21, 2021 • Vikings, Walruses, Giphy
By Walt Hickey Giphy Facebook has been slammed with a £50 million ($70 million USD) fine from the U.K. Competition and Markets Authority after it failed to provide the regulator with information about its acquisition of gifmonger Giphy for $400 million last year. The watchdog thinks that it could raise competition concerns on digital advertising, and Facebook has refused to report all the required information in what the agency describes as a first. The agency also dinged Facebook for another £500,000 after it changed its chief compliance officer twice without consent from the regulator. While a huge, unprecedented breach in the eyes of the Authority, I estimate it’s currently ranked the 87th most significant problem Facebook has right now.