$1 Billion For Instagram?
Mark Zuckerberg understands social networking, but critics question his ability to place a monetary value on unprofitable mobile apps. Facebook in April bought Instagram
, maker of the popular, eponymously named photo-sharing app, for around $1 billion in cash and Facebook shares. Reports suggest that Twitter was interested
in Instagram, too, a factor that might have driven up the price. Some members of Facebook's board of directors weren't aware of the deal until after Zuckerberg reached an agreement with Instagram CEO Kevin Systrom, according to The Wall Street Journal
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