Zuckerberg Kept Facebook Board Out Of Instagram Negotiations

Posted on Apr 18 2012 - 10:47am by Editorial Staff

An interesting note revealed over a recent hefty $1 billion Facebook newly acquired Instagram deal where “surprising” is that the social giant’s Mark Zuckerberg kept board out of negotiations. The negotiation period was a mere weekend at Mark Zuckerberg’s house, where he and Kevin Systrom. The Wall Street Journal reports that Zuckerberg informed Facebook’s board of directors that he intended to spend $1 billion on Instagram on Sunday morning, April 8th, approximately 24 hours before the takeover became official. The board reportedly did vote on whether to approve the decision. The sources close to these proceedings describe them as “largely symbolic.” Facebook’s COO, Sheryl Sandberg, is said to have been informed on Thursday of that week that Zuckerberg was going to pursue the purchase of Instagram, though she herself isn’t reported to have participated in the meetings with Systrom. Isn’t it is interesting on how the deal cracks in Silicon Valley.

(Image Source: Facebook, Featured Image)

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Editorial Staff

Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.