Overview

• Instagram CEO Adam Mosseri testified in Washington, DC, as part of the FTC's antitrust trial against Meta, which alleges the company monopolized the social networking market through its acquisitions of Instagram and WhatsApp.
• Mosseri revealed that Instagram has invested 'hundreds of millions, maybe a billion or two' in creator incentives and infrastructure during his tenure to compete with platforms like TikTok.
• Internal data from 2019 showed TikTok caused a 23% decline in U.S. user engagement on Instagram, with Mosseri describing TikTok as the 'fiercest competition' Instagram has faced.
• Mosseri discussed Instagram's product evolution, including the initial failure and eventual relaunch of Reels, a short-form video feature designed to rival TikTok.
• The trial now shifts to expert testimony on market definition and monopoly power, with potential outcomes including a forced divestiture of Instagram and WhatsApp.