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FTC Talks With Twitter, Google About Facebook’s Instagram Deal

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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.

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I'm covering the science/tech/generally-exciting-and-innovative beat for Fast Company. Follow me on Twitter, or Google+ and you'll hear tons of interesting stuff, I promise. I've also got a PhD, and worked in such roles as professional scientist and theater technician...thankfully avoiding jobs like bodyguard and chicken shed-cleaner (bonus points if you get that reference!)

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