Instagram turned down Twitter before selling to Facebook
Posted on 17 Dec 2012 at 09:06
Author: Barry Collins
Facebook wasn't the only social networking firm interested in Instagram, sources reveal
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"We never received any formal offers or term sheets"
Which makes it clear he did receive informal offers, not a surprise to anyone. Surprised he didn't go back to Twitter to try and get more out of them; suspect Facebook got in there with a too good to refuse take it or leave it offer. Instagram may not have been worth a billion but depriving Twitter of their userbase was worth it to Facebook.
By Mark_Thompson on 17 Dec 2012
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