- Facebook Inc FB would halt its Instagram for kids project development, Instagram head Adam Mosseri said in an interview on the Today Show Monday, the Wall Street Journal reports.
- Facebook will reassess the project at a later date. Meanwhile, Instagram will continue to focus on teen safety and expanding parental supervision features for teens.
- The project first announced in March received widespread opposition from lawmakers. Facebook also internally acknowledged Instagram's harmful impact on teenagers.
- Facebook's global head of safety, Antigone Davis, will testify before the Senate on consumer protection on Thursday.
- Price Action: FB shares traded lower by 0.84% at $350 in the premarket session on the last check Monday.
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