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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I think the NSA has a job to do and we need the NSA. But as (physicist) Robert Oppenheimer said, “When you see something that is technically sweet, you go ahead and do it and argue about what to do about it only after you’ve had your technical success. That is the way it was with the atomic bomb.”

— Phil Zimmerman, PGP inventor and Silent Circle co-founder, in an interview with Om Malik