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Facebook Climbs to 2.9 Billion Users, Reports $29.1 Billion in Q2 Sales

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thewrap.com
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Federal Trade Commission’s antitrust lawsuit against Facebook was dismissed. The FTC, along with 48 state attorneys general, had sued Facebook in December, claiming it not only has a social network monopoly, but that it has maintained that position primarily through its acquisitions of Instagram and WhatsApp.

Facebook bought Instagram for $1 billion in 2012, and two years later, paid $19 billion for WhatsApp. (Both deals were approved by the FTC.) The FTC still has an opportunity to amend its lawsuit, but Wall Street took it as a good sign for Facebook, with the company’s stock price jumping 20 points in the last month.

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