Facebook’s investors could benefit from a breakup LiamWardProud
Facebook co-founder Chris Hughes urged U.S. regulators to break up the social-media company in a New York Times op-ed on May 9.
Hughes, a college roommate of Facebook founder and Chief Executive Mark Zuckerberg, said the Federal Trade Commission and Department of Justice should undo the acquisitions of Instagram and WhatsApp. Facebook bought Instagram in 2012 for $1 billion and WhatsApp in 2014 for $19 billion. It follows a March pledge by U.S. Senator Elizabeth Warren, who is running for the Democratic presidential nomination for the 2020 election, to break up big tech companies.
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