Meta Prevails in Its Legal Battle Against the USFTC to Purchase the VR Company Within

by | Feb 6, 2023

A US judge has granted Meta permission to proceed with its acquisition of VR company Within, despite the US Federal Trade Commission’s continuing antitrust complaint against the internet giant (FTC). The court denied the FTC’s demand for a preliminary injunction against the transaction after a seven-day hearing.

“After analyzing the evidence and the parties’ arguments, the court decides that it is not “reasonably probable” that the tech giant, Meta, would enter the market for VR dedicated fitness applications if the purchase could not be completed,” the judgment stated.

The FTC attempted to prevent Meta and Zuckerberg from acquiring Within in July of last year since Meta is already a prominent player at every level of the VR business.

The agency claimed that Meta and Zuckerberg intend to build Meta’s VR empire “with this illegal acquisition of a dedicated fitness app that demonstrates the value of virtual reality to users.”

The US court, on the other hand, has now ruled in Meta’s favor, allowing the FTC time to appeal.

The popular exercise software ‘Supernatural’ is owned by the Within VR firm.

Supernatural features a wide range of high-quality workouts set to music, including songs by A-list singers such as Katy Perry, Imagine Dragons, Lady Gaga, and Coldplay, and virtually set in stunning, photorealistic locations such as the Galapagos Islands.

As it prepares, to launch its metaverse in 2023, Meta recently purchased Luxexcel, a Netherlands-based manufacturer of 3D smart glasses.

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Sarah M

Sarah M

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Sarah is the founder, owner, editor, and writer at Social Media Notes. She also does SEO, SMM, and is the SEO consultant for various companies. We hope that reading the blog posts on Social Media Notes would bring you more knowledge, and insight. Welcome to Social Media Notes!

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