Did Instagram Forget Its $525 Million Verbal Agreement With Twitter?
Everyone was wondering a while back how Twitter could have missed out on snagging Instagram, particularly when Twitter co-founder Jack Dorsey was an Instagram investor.
Well, it turns out Twitter did attempt to buy Instagram and may not have been given an opportunity to provide a counteroffer – and that could put Instagram’s CEO, Kevin Systrom, in a bit of hot water.
The New York Times is reporting that when Facebook purchased Instagram, the photo giant’s CEO testified before the California Corporations Department that “his company had [not] received any offers besides Facebook’s at the time of the negotiations.”
Yet
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