FTC Acts To Block Meta From Buying The Company’s VR Fitness App

WASHINGTON (AP) — Federal regulators sued Wednesday to block facebook Meta’s parent and CEO Mark Zuckerberg from acquiring virtual reality company Within Unlimited and its fitness app Supernatural, arguing that the deal would hurt competition and violate antitrust laws.

The Federal Trade Commission has filed a complaint in San Francisco federal court against the tech giant and its top CEO, seeking a temporary restraining order and a preliminary injunction against the proposed acquisition.

The regulators said that Meta is already a key player “at every level of the VR sector”, owning the top-selling device, the top app store, the industry’s top seven developers and one of the top-selling apps. or all the time.

The FTC said the Meta and Zuckerberg are planning to expand this virtual empire by trying to illegally acquire a dedicated fitness app.

Under Zuckerberg’s leadership, Meta began its VR takeover campaign in 2014 by purchasing headset maker Oculus VR. Since then, Meta’s VR headsets have been the cornerstone of its growth in the VR space. With the popularity of its top-selling Quest headsets, Meta’s Quest Store has become the leading app platform in the US with over 400 apps available for download.

Meta rejected the claims of the regulators.

“The FTC case is based on ideology and speculation, not evidence,” the company said in a statement. “By attacking this deal… the FTC is sending a chilling message to anyone looking to innovate in VR. We are confident that our acquisition of Within will benefit people, developers, and the VR space.”