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

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 Inc. (FB) Cut to Hold at Vetr Inc.

Facebook Inc. (NASDAQ:FB) was downgraded by equities researchers at Vetr from a “buy” rating to a “hold” rating in a report issued on Monday. They currently have a $131.43 target price on the social networking company’s stock. Vetr‘s price objective would indicate a potential upside of 3.86% from the stock’s previous close.

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