Meta Facing Antitrust Lawsuit Over Allegedly Stealing Business Plan from Now-Defunct Tech Startup

Meta Platforms is facing a new lawsuit alleging it stole its Instagram Shopping business plan from a now-defunct technology startup.

The lawsuit, filed on Friday in the federal court in San Jose, California, by London-based Ollywan Limited, claims Meta used its dominance in social networking to crush Ollywan’s app, Winstag, which shut down in 2023.

Ollywan alleged Meta violated U.S. antitrust law by integrating Instagram with Instagram Shopping, which lets users buy products tagged in posts. The complaint said Meta’s conduct left rivals unable to compete and fostered a monopoly worth more than $2 billion annually.

Read more at Reuters