The Wall Street Journal has learned a few incredible facts about the recent deal to buy Instagram. Firstly the deal was led almost exclusively by CEO Mark Zuckerberg himself in a brief and intense three-day window, without much of the legal or banking paraphernalia that usually goes with such negotiations. And then, at the key moment of discussing price it was guessed that if Facebook was one day to be worth $200 billion, then Instagram’s value should be 1% … Or $2 billion. That’s twice what it ultimately went for. The WSJ also suggests that Zuck made the moves because he was worried that Instagram was growing so very swiftly, effectively bypassing Facebook’s photo-sharing dominance–this information chimes with rumors he “panicked” at this news. And Facebook’s board was “told” not asked about the deal. This paints a complex picture of its CEO as at once confident and bold, and also nervous and panicky–details that will be scrutinized come Facebook’s imminent IPO.
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