The acquisition of Instagram drained Facebook pockets for $ 1 billion. But it turns out, the transaction value has been offered by Mark Zuckerberg is not the original price. Instagram CEO, Kevin Systrom actually want $ 2 bilion for his application. However, after private negotiations, Zuckerberg Systrom persuaded lower price for Instagram. Kevin finally agree with the price.
At that time, on Thursday, April 5 local time, Zuck called Systrom after he himself spoke with Facebook COO Sheryl Sandberg about that big acquisition.
Reported, Zuckerberg did the acquisition without the help of lawyer, because he feared it would make Systrom reject the bid, as reported by SFGate on Wednesday (04/18/2012).
After the call, Systrom went to Zuckerberg house in Palo Alto repeatedly for 3 days. On the other hand, Zuck just told board of directors about his action, on Sunday, April 8th.
Although Instagram itself only reinforced by a small team that contains 13 employees and have not been able to have income, but Systrom knew that his company valuable for Facebook.
Zuckerberg has tried to Instagram on summer last year. He realized that the growth of Instagram could be a threat, this is the reason behind the largest acquisition that ever being done by Facebook in the history of business.
At that time, on Thursday, April 5 local time, Zuck called Systrom after he himself spoke with Facebook COO Sheryl Sandberg about that big acquisition.
Reported, Zuckerberg did the acquisition without the help of lawyer, because he feared it would make Systrom reject the bid, as reported by SFGate on Wednesday (04/18/2012).
After the call, Systrom went to Zuckerberg house in Palo Alto repeatedly for 3 days. On the other hand, Zuck just told board of directors about his action, on Sunday, April 8th.
Although Instagram itself only reinforced by a small team that contains 13 employees and have not been able to have income, but Systrom knew that his company valuable for Facebook.
Zuckerberg has tried to Instagram on summer last year. He realized that the growth of Instagram could be a threat, this is the reason behind the largest acquisition that ever being done by Facebook in the history of business.
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