2billion

Zuckerberg Flew Solo – Lowered Instagram Asking Price by $1 Billion

A couple of weeks ago, Facebook took everybody by surprise when they acquired Instagram; the massively popular -- though not yet profitable -- photo-sharing application. A few days ago we learned that they may have only just beat Twitter to the punch. Now rumors are flying about that Mark Zuckerberg not only acted on his own -- without the Facebook board's knowledge -- but managed to lower Instagram CEO Kevin Systrom's asking price from $2 billion to the reported $1 billion that Facebook shelled out.