Mobility
Search

News | Apps : IOS Android Windows | Reviews | Following

The FTC Is Investigating Facebook's $1 Billion Instagram Buy

Nicholas Carlson

Mark Zuckerberg Kevin Systrom

The FTC is investigating Facebook's $1 billion Instagram buy, reports the FT.

In its most recent filings with the SEC, Facebook said the deal should close by the end of the current quarter.

The FT says the investigation – a routine one – will probably push the deal close beyond the end of the quarter.

Please follow SAI on Twitter and Facebook.

Join the conversation about this story »

source: www.businessinsider.com

10 May 2012

Full Story

l 0 b 0

Please login to comment

Facebook's New Terms Of Service Suggests Ads Might Come To Instagram (FB)

www.businessinsider.com Dylan Love 180 days ago

mims

brainer

advertising opportunities

100 million

The language in Facebook's new terms of service leaves the door quite open for ads to appear inside Instagram in the future, as pointed out in a tweet by tech reporter Christopher Mims. Here's the key language: "At this time, we're focused mainly on product development and are not pursuing marketing or advertising opportunities. This may change as Instagram grows and we expand our team, and we look forward to working with you then." This one's a no-brainer. Of course ads will come to Instagram. Instagram has amassed 100+ million users in two years. It's a beautiful visual service. Why on earth... Read similar

l 0 b 0

How A Startup With No Revenue Can Be Worth A Billion Dollars

www.businessinsider.com Megan Rose Dickey 18 days ago

paul buchheit

start ups

gmail

venture capital business

dollar company

When Facebook snapped up Instagram for $1 billion last year, lots of people in the tech industry were baffled. Instagram had no revenue, but for some reason Facebook decided the company was worth spending a billion dollars on. Earlier this year, Pinterest sold $200 million in stock to new and current investors for less than 10% of the company, effectively valuing it at $2.5 billion. Pinterest still has yet to generate any revenue, but investors are betting that the social pinboard startup could be the next Facebook. Paul Buchheit, the creator and former lead developer of Gmail... Read similar

l 0 b 0

Sexting App Snapchat Is A Threat To Facebook, And It Is 2013's Most Likely Billion Dollar Startup (GOOG, FB, YHOO)

www.businessinsider.com Nicholas Carlson 133 days ago

Facebook bought Instagram for $1 billion last spring in a defensive measure. The main reason people use Facebook is to share photos, and Instagram was threatening this dominance on mobile, where consumer computer usage is going. Now there is a new startup that presents a similar threat. It's called Snapchat. It's an app where users send each other self-destructing photos. Teens use it to send each other provocative images, which adults call "sexting." Like Instagram, it's a mobile photo-sharing app, and it's come out of nowhere to grow like crazy. Facebook already tried to build a Snapcha... Read similar

l 0 b 0

INSTAGRAM CAVES: Cancels Changes To Advertising Section Of Its Terms Of Service (FB)

www.businessinsider.com Jim Edwards 151 days ago

Instagram co-founder Kevin Systrom just updated the Instagram blog with a statement that the company would revert the advertising section of its terms of service back to the original language, from 2010. The move follows mass outrage from Instagram's users, many of whom (wrongly) concluded that Instagram was about to sell their photos to advertisers. The original rules still allow Instagram to place ads in users' photostreams; the new rules made that a little more overt. Systrom says the company will regroup, and when it's ready, explain in more detail ahead of time how it plans to introduce a... Read similar

l 0 b 0

For What It's Worth: The Gossip Is That Apple Also Tried To Buy Instagram (FB, AAPL)

www.businessinsider.com Nicholas Carlson 54 days ago

Here's a rumor we haven't been able to confirm. Before Facebook bought Instagram for $1 billion a year ago, Apple was also in the mix, trying to buy the photo-sharing app. We heard this piece of gossip from a very plugged-in person in the deals community. Again, we have not been able to confirm it. (Duh. It's Apple, the most closed-off company in the Valley.) Anyway, the source told me Apple's interest in Instagram is a sign that the company is slowly expanding the kinds of companies it acquires. Right now, Apple pretty much only buys small companies with good technology or good people, ... Read similar

l 0 b 0

National Geographic Suspends Instagram Account After Yesterday's Controversy (FB)

www.businessinsider.com Steve Kovach 153 days ago

National Geographic has suspended its Instagram account due to the big snafu over the app's revised terms of service. The magazine said (on Instagram, of course!) that it was concerned with the new language and may close the account for good. The Verge first discovered National Geographic suspended its account. It appears that the folks behind National Geographic's Instagram account, along with many others, think Instagram wants to sell their photos to advertisers. As Instagram co-founder Kevin Systrom said in a blog post yesterday, that is not the case. Let's be absolutely clear about t... Read similar

l 0 b 0

LIVE: Facebook Beats Profit And Revenue Expectations, The Stock Drops Anyway (FB)

www.businessinsider.com Nicholas Carlson 110 days ago

operating profit margin

Facebook just reported its Q4 numbers. It beat Wall Street analysts' revenue and profit expectations. Revenue growth continued to accelerate – grew 40% y/y, up from 32.80% y/y growth last quarter. Operating margins improved, as well. Despite the good news, the stock dropped 10% as soon as the numbers came out. Since then, it's climbed back some. At 5PM eastern, Facebook will host an earnings call. We'll take live notes in this post. Click here to update this post. THE NUMBERS: **EPS: $0.17 versus $0.15 consensus **Revenues: $1.59 billion versus $1.53 billion conse... Read similar

l 0 b 0

What's Truly Amazing About This Whole Instagram Fiasco

www.businessinsider.com Alyson Shontell 152 days ago

tiffani amber thiessen

Two days ago, Instagram tweaked its Terms of Service. People went bananas. Not much was changed, but one line was striking:You agree that a business may pay Instagram to display your photos in connection with paid or sponsored content or promotions without any compensation to you. It sounded like Instagram was telling users it would make money off their photos without giving them a cent. It also sounded like Instagram would use people's photos however they liked without asking for permission first. Instagram has since acknowledged its royal PR screw up and has agreed to modify some of th... Read similar

l 0 b 0

Instagram Investor: The Company Sold 'Completely Prematurely' (FB)

www.businessinsider.com Owen Thomas 161 days ago

Sequoia Capital's Doug Leone was an Instagram investor for only a couple of days before Facebook swooped in and bought the photo-sharing company for $1 billion in April. His firm had just led a $50 million investment in the company, in a cash-and-stock that valued Instagram at $1 billion (before Facebook's cratering share performance after its IPO tanked the value of its stock). Instagram "sold completely prematurely," Leone told VentureWire. “A billion dollars sounded great to the founders. Imagine what Instagram could be. It could be the next Facebook on the mobile phone.” S... Read similar

l 0 b 0

10 Things You Need To Know This Morning (AAPL, GOOG, MSFT, FB, SSNLF)

www.businessinsider.com Nicholas Carlson 155 days ago

Good morning. Late Friday, Microsoft comms boss Frank Shaw went after Google comms boss Jill Hazelbaker on Twitter, accusing her of planting an anti-Microsoft story in BusinessWeek. French journalists infiltrated Foxconn and found that working conditions are still poor, despite promises from Apple and Foxconn. Apple is trading below $500, following a busy Sunday of news; China iPhone 5 sales figures came out and an analyst slashed his price target. Google is facing supply chain shortages for its Nexus 4, and it's apologizing to customers for delays. Facebook is launching a competitor to Snapc... Read similar

l 0 b 0

Before Co-Founding Instagram, Kevin Systrom Missed Out On Millions Multiple Times

www.businessinsider.com Alyson Shontell 15 days ago

Kevin Systrom sold his startup, Instagram, to Facebook last year for $1 billion in cash and stock. Before the acquisition, Systrom missed out on millions multiple times. Systrom attended Stanford. While at Stanford, Mark Zuckerberg tried to persuade Systrom to drop out and join Facebook. Had Systrom joined Facebook then, he would have been one of the many Facebook employees to make millions. Strike one. Systrom also interned at a company that would grow to be Twitter, Odeo. He left and joined Google in 2008. Twitter is now worth multiple billions. Strike two. S... Read similar

l 0 b 0

Instagram Will No Longer Let You See Photos In Twitter (FB)

www.businessinsider.com Steve Kovach 162 days ago

Earlier today, Instagram pulled the plug on Twitter and will no longer let you display your photos in your Twitter stream. TechCrunch was the first to notice the change and AllThingsD confirmed it with Facebook. (Facebook owns Instagram.) A quick glance at our own feed shows that links to Instagram photos in Twitter now send you to Instagram's website. Before, you could just view the photo in your Twitter stream. During a talk at Le Web last week, Instagram founder Kevin Systrom hinted that his app would eventually stop showing photos within the Twitter stream in favor of directing users to In... Read similar

l 0 b 0

10 Things You Need To Know This Morning (FB, GOOG, MSFT, NOK)

www.businessinsider.com Steve Kovach 153 days ago

silicon valley community

brazilian company

kickstarter

philanthropic organization

silicon valley

Happy Wednesday, everyone! Here's the news: Instagram co-founder Kevin Systrom apologized for confusion over the app's new terms of service. He said the company will not sell your photos to advertisers. By the way, if you really read Instagram's terms of service, you can see the company never wanted to sell your photos. Mark Zuckerberg donated 18 million Facebook shares (almost $500 million worth) to a philanthropic organization called the Silicon Valley Community foundation. The money will be used for health and education. Oracle beat earnings expectations yesterday, reporting $9.1 billion i... Read similar

l 0 b 0

Jack Dorsey Was 'Heartbroken' When Instagram Sold To Facebook

www.businessinsider.com Alyson Shontell 15 days ago

It's been a little over one year since Facebook acquired Instagram for $1 billion in cash and stock. For one of Instagram's early investors, Jack Dorsey, the acquisition is still a painful memory. AllThingsD's Kara Swisher has written an in-depth article about the tug-of-war between Facebook and Twitter for Instagram in Vanity Fair. In April 2012, many investors and tech companies were interested in Instagram. VCs gave Systrom and his co-founder, Mike Krieger, $50 million at a $500 million valuation. Around the same time, Jack Dorsey and Twitter's then-CFO, Ali Rowghani, wanted to buy In... Read similar

l 0 b 0

Instagram CEO Kevin Systrom Has Not Posted A Single Photo All Year (FB)

www.businessinsider.com Owen Thomas 116 days ago

alpine meadows ski resort

Where's Kevin? We just noticed that Kevin Systrom, the cofounder of Instagram, has yet to post a single photo on the service in 2013. Systrom used to post about 15 photos a month—so he wasn't prolific, but definitely a steady user of his own service. It may be coincidence, but his Instagram frequency declined sharply after Facebook closed on its acquisition of his company and the Instagram team started working out of Facebook headquarters in Menlo Park. One explanation is just that Mark Zuckerberg is keeping his new hire busy. But Systrom did post one photo publicly to Facebook, a p... Read similar

l 0 b 0

Now You Can Look At Your Instagram Feed Online (FB)

www.businessinsider.com Dylan Love 104 days ago

Instagram is unveiling a feature that makes it possible for you to look at your feed on the web, as outlined in this post on the company's blog. Users will be able to go to Instagram.com to see their feed and more or less get the same experience on a desktop that they would on their mobile device, except you can't upload pictures. The post explains that this is because Instagram "is about producing photos on the go, in the real world, in realtime. On the other hand, Instagram for the web is focused on making the browsing experience a fast, simple and enjoyable one." You can get started right n... Read similar

l 0 b 0

REPORT: Twitter Offered To Buy Instagram For $525 Million, Contrary To Testimony From Instagram's CEO (FB)

www.businessinsider.com Jay Yarow and Kevin Smith 155 days ago

nick bilton

california corporations

mark zuckerberg

term sheets

legal trouble

Twitter offered to buy Instagram for $525 million in cash and stock this March, Nick Bilton at the New York Times reports. This was three weeks before Mark Zuckerberg closed a deal to buy Instagram for $1 billion (at the time). Unlike most reports of an almost-deal, this one, according to Bilton, could lead to legal trouble for Instagram CEO Kevin Systrom. In August, Systrom testified to the California Corporations Department about the Facebook deal. It was a way to speed up approval of the acquisition. During the hearing Systrom was asked if he had ever received competing offers. He said, "We... Read similar

l 0 b 0

BILL MILLER: Investors Selling Apple Are Making A Mistake (AAPL)

www.businessinsider.com Matthew Boesler 104 days ago

military intelligence officer

apple stock

free cash flow

legg mason

best performing mutual fund

Legendary fund manager Bill Miller of Legg Mason ran the best performing mutual fund last year – up 40 percent, thanks to a big bet on homebuilding stocks, which killed it in 2012. In an interview with the Financial Times, Miller had some kind words for Apple stock, which has been subjected to a brutal sell-off since September. Apple shares, says Miller, are coming under fire because investors are starting to think the company's products may be losing their luster. However, he doesn't see this as the case. The FT's Dan McCrum writes: In [Miller's] opinion, "Apple is much more like Nike,&... Read similar

l 0 b 0

Apple Just Disclosed China Revenues For The First Time Ever (AAPL)

www.businessinsider.com Matthew Boesler 117 days ago

Apple earnings are out, and investors are not loving the numbers. However, lost in all of the noise is the fact that Apple just broke out its revenues in China for the first time ever in its latest release, according to CNBC. Greater China – including Taiwan and Hong Kong – revenues were $6.83 billion, up from $5.43 billion in the previous quarter and $4.08 billion a year ago. That represents growth of 26 percent and 67 percent, respectively. Check it out (click to enlarge): Click here for details on Apple's latest earnings release > Please follow SAI on Twitter and Facebook.Jo... Read similar

l 0 b 0

Randi Zuckerberg Has Opened Up Shop 3 Minutes Away From Facebook's Headquarters (FB)

www.businessinsider.com Owen Thomas 117 days ago

Since leaving her job as director of marketing at Facebook in 2011, Randi Zuckerberg has been working on launching her own media-production firm, Zuckerberg Media. Randi is the older sister of Facebook CEO Mark Zuckerberg, who famously cajoled her to leave a Madison Avenue career to become one of the social network's earliest employees. But she's been running her company from her living room for some time. Now she's opened up a 12,000-sq. ft. studio with two sound stages, a control room, audio booth, and other fittings. The idea is to do the kind of video productions she did at Facebook, where... Read similar

l 0 b 0

Alley Insider

Business Insider is a new business site with deep financial, entertainment, green tech and digital industry verticals. The flagship vertical, Silicon Alley Insider, launched on July 19, 2007, led by DoubleClick founders Dwight Merriman and Kevin Ryan and former top-ranked Wall Street analyst Henry Blodget.

Nicholas Carlson

Nicholas Carlson oversees SAI, War Room, and The Wire for Business Insider. Previously, he reported for Gawker Media's Silicon Valley gossip blog, Valleywag. He got his start on the beat at InternetNews.com. Before that, there was a stint at Merrill Lynch.

Blogger at a glance

Select your favorite bloggers to see what they are writing about today.

Blogs at a glance

Select your favorite blogs to see what they are writing about today.

News | Apps : IOS Android Windows | Reviews | Following

Similar Results