Face-tagram Revisited: Twitter Reportedly Offered $525M to Buy Instagram Prior to Facebook Sale

How much could Instagram have really sold for? That’s the burning question after a report in the New York Times questioned whether there was a fair bidding process for the popular photo-sharing app when Facebook purchased it for $1 billion. Nick Bilton reported today that Instagram executives received a $525 million buyout offer from Twitter, despite Instagram co-founder Kevin Systrom’s statement that the company “never received any offers” before Facebook’s. The Federal Trade Commission closed its investigation in August without taking any action.


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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work