Zuckerberg Made the Facebook/Instagram Deal All by Himself, Cut in Half $2 Billion Asking Price
Nobody is making light of the huge acquisition that occurred last week when Facebook bought Instagram, but there was surprisingly little chatter about the event after everyone got done giving tips to facilitate a mass exodus… That lack of talk was probably because we didn’t know any of the details, but that has changed now that Zuckerberg has come out to say that the deal was initiated and closed in about three days.
… Along with the extremely brief time frame, it’s now clear that the lofty $1 billion Facebook paid to Instagram was actually quite a steal. It turns out that co-founder Kevin Systrom was actually hoping to get $2 billion for his photo-sharing app, but Zuckerberg was apparently able to charm him into a 50% discount. $2 billion for a product that’s not monetized seems pretty outlandish, but then so does $1 billion. I guess that’s how it works these days.
Another interesting detail from this mega-deal is the fact that Zuckerberg acted alone. Sources close to the Facebook board claim that Zuckerberg did not consult them, but instead told them what was happening… But who was going to disagree? Snatching up Instagram in its heyday seems like a no-brainer when you have the infinitely deep pockets of the world’s foremost social network. And if it meant circumventing legal red tape and going straight to the source, Zuckerberg was up to the task… Do you see this news changing the public perception on Zuckerberg’s leadership?