Facebook CEO Mark Zuckerberg and Google CEO Sundar Pichai have recognized and approved a deal to cooperate in the potential manipulation of ad sales, according to a newly revealed document.
The document, which was revealed on Friday, was filed as part of a proceeding against Google filed by the Attorney Generals of several US states. The proceedings were first filed in December 2020, alleging that Google misunderstood publishers and advertisers about the price and process of ad auctions. At that time, many documents and parts of the proceedings were edited, but were subsequently released by a court ruling.
The lawsuit alleges that Google continued to dominate the advertising sales market in Google-dominated markets by soaring the prices of branded ads and curbing competition from other advertising exchanges.
According to The Wall Street Journal, complaints pocket the difference between what Google has told publishers and advertisers about advertising costs, and a pool of money to manipulate future auctions to expand digital monopoly. Claims to have used it. The document also cites an internal message saying that Google employees seem to be using insider information to grow their business.
The journal also reported that the proceedings alleged Facebook executives who were recently rebranded as Meta, and Google approved a deal guaranteeing that Facebook would bid and win a certain percentage of ads.
According to the proceedings, Facebook Chief Operating Officer Sheryl Sandberg stated in a 2018 email thread on transactions involving Facebook’s CEO that this was a major strategic issue.
When both sides set out the terms of the agreement, the team sent an email directly to CEO Zuckerberg, who was in proceedings.
If Pichai turns out to personally approve the transaction, it could turn out that he is helping to expand Google’s monopoly on the advertising market through operations. A Google spokesperson told AP that the deal wasn’t a secret, but it was inaccurate to say that Pichai approved it.
Every year we sign hundreds of contracts that don’t require CEO approval, and this was no exception.
In a statement, Google spokesperson Peter Schottenfels said the proceedings were inaccurate and had no legal merit.
Chris Sgrow, a spokesperson for Meta, said Friday that a company’s advertising bidding agreement with Google and similar agreements with other bidding platforms helped intensify the competition for advertising.
These business relationships allow Meta to offer more value to advertisers while rewarding publishers significantly, with better results for everyone, Sgro said.
New details come when tech companies are faced with close scrutiny of what is considered anti-competitive practice. Earlier this week, a U.S. judge ruled that the government could proceed with a proceeding to disband Meta, the parent of Facebook, Instagram and WhatsApp, in order to loosen its grip on the market. And on Friday, a group of nearly four dozen states asked to revive another antitrust proceeding against the company.
Meanwhile, Google faces its own monopoly-related accusations filed by the US government. Google has rejected the claim.
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