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Facebook reportedly ditched plans to buy a social networking competitor over antitrust fears

SocNetNews.com

Facebook considered acquiring Houseparty but abandoned the deal due to fears of greater antitrust concerns, The New York Times reports.

Facebook considered acquiring video chat app Houseparty but abandoned the deal last year due to concerns around heightened antitrust scrutiny, according to The New York Times.

The company was in advanced discussions with Houseparty but ended deal talks after it became clear that acquiring another social media company would be too risky, given Facebook’s dominance in the space, the Times reported.

Facebook Tests ‘Suggested Moderator’; Google Launches Yet Another Social Networking App

socnetnews.com

With Q2 2019 now behind us, it’s time to analyze what worked, what didn’t and look ahead to new trends in the world of social media.

Meet Facebook's Libra, a digital currency for the social network

socnetnews.com

. Facebook has unveiled an ambitious plan for its own digital currency similar to bitcoin, called Libra.
. It's partnering with several other heavyweights, such as Visa, Mastercard, Uber, PayPal and Spotify.
. Libra is scheduled to launch within the next six to 12 months.
. Many privacy questions remain unanswered, though, adding to the regulatory concerns Facebook already faces.

Facebook already rules daily communication for more than 2 billion people around the world. Now it wants its own currency, too.

Facebook to charge $10M per license to manage its cryptocurrency network

Companies wanting to help manage one of the 100 nodes on Facebook's cryptocurrency network will reportedly be charged a hefty fee.

Facebook is reportedly planning to charge companies $10 million each to operate the nodes on its future cryptocurrency network.

The social network could be launching its own Facebook cryptocurrency as early as 2020.

An independent foundation would manage the network behind the payments. Facebook is aiming to launch the network with 100 nodes, according to a Wednesday report in The Information (via The Block).

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