Zuckerberg tight-lipped about lack of progress on Instagram deal
It’s been over three months since Facebook announced it would buy mobile photo sharing application and social network Instagram for a combination of cash and shares worth up to $1 billion, but nothing has come of it yet. When asked about the status of the deal during today’s second quarter earnings call, Facebook CEO Mark Zuckerberg’s answer was short and to the point, saying as the deal hasn’t closed and there has been no integration between the two companies at all.
Although the transaction was originally pegged to close during Q2, Facebook later changed its estimates to sometime in 2012.
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