The Federal Trade Commission has approached both Google and Twitter concerning Facebook‘s $1 billion deal to purchase social photo-sharer company Instagram. According to a source speaking to Reuters, it’s not known exactly what details the FTC is curious about, but it was rumored that both these other companies and possibly others were interested in bidding for Instagram–itself growing at a swift rate and thus rapidly increasing in value–which caused Facebook’s CEO to move very swiftly and conclude the deal in private without his board’s full knowledge. Facebook still plans to conclude the Instagram purchase in the second quarter but first it has to complete its complex IPO, scheduled for next week.
collectionsInnovation FestivalCurrent Issue
World Changing Ideas
New workplaces, new food sources, new medicine--even an entirely new economic system.
The major tech ecosystems that battle for our attention and dollars.
What’s next for hardware, software, and services.
The brave new world of automation, from AI to drones.
How our urban centers are building toward the future.
Most Creative People
See members of our Most Creative People in Business community: leaders who are shaping the future of business in creative ways.
An award-winning team of journalists, designers, and videographers who tell brand stories through Fast Company's distinctive lens.