> Every company that buys another company buys it because it adds something to their business.
The point is that they didn't acquire those companies to add to their business, they acquired them because their continued independent existence detracted from their business. Also known as competition.
What are you basing that on? Instagram is clearly their preferred app at least in the US. It definitely bolstered their business. And they obviously invested heavily into it post acquisition.
I dislike meta but wouldnt call their ownership of instagram anti competitive monopolistic.
The point is that they didn't acquire those companies to add to their business, they acquired them because their continued independent existence detracted from their business. Also known as competition.