Instagram agreed to sell to Twitter for $525 million before choosing Facebook, says NYT

Instagram Twitter Friends Error

The New York Times is reporting that Twitter had a deal in place to buy Instagram for $ 525 million back in March — before the photo-sharing service’s CEO Kevin Systrom called the whole thing off. We’ve heard about Twitter’s interest in Instagram before, but the revelation is particularly noteworthy given the recent spat between the two companies, not to mention Systrom’s claims to California regulators that Facebook’s successful $ 1 billion bid was the only one received.

According to the Times, Systrom and co-founder Mike Krieger had verbally agreed to sell to Twitter before finally deciding to “remain independent” on March 20th. Three weeks later, the Facebook acquisition was announced, leaving the Times‘ sources shocked that Twitter…

Continue reading…

The Verge – All Posts

Leave a Comment