Actually, yes: Facebook is especially bad about buying up new technology, both competing and non-competing. Google, Microsoft, Amazon, and Apple do it, too.Kinda like facebook?
It's easy to see in the entertainment and gaming industry, too, with new studios frequently getting bought and consolidated, especially if introducing a franchise or marketing method that makes the existing market distasteful to consumers. (Example: Deviating from microtransactions.)
And retail. Walmart has been well known for underpricing local stores to the point they go out of business and then pumping pricing.