Topline: Snapchat is handing over a trove of documents to the Federal Trade Commission
detailing Facebook’s efforts to stifle its business, according to the Wall Street Journal—a move that may mean trouble for Facebook as investigators zero in on aggressive behavior that may have run afoul of antitrust law.
- Snapchat’s legal team assembled a dossier to keep track of possible instances when, they believed, Facebook abused its power.
- The documents accuse Facebook of preventing Snapchat-related content from trending on Instagram’s Explore page and blocking searches of Snapchat-related terms, according to the WSJ.
- Snapchat also says Instagram threatened to take away users’ verified status if they posted Snapchat links on their profile. In 2016, Instagram banned users from doing so.
- The effort was dubbed “Project Voldemort,” in reference to a Harry Potter villain.
- According to the WSJ, The FTC is also investigating Facebook for copying key features from their rivals after the company failed to acquire them, which happened with Snapchat and Foursquare.
Neither Facebook nor Snapchat responded to requests for comment from Forbes.
News peg: Facebook is under four separate antitrust investigations, including the one being conducted by the FTC. The Department of Justice, Congress and a bipartisan group of state attorneys general are each probing the company.
Tangent: After a disastrous IPO debut two years ago, Snapchat is one of the best-performing tech stocks of the year.