Was Facebook's acquisition of Instagram motivated by paranoia?
That is the theory behind a VentureBeat report that Mark Zuckerberg rushed the negotiation process for the photo-sharing app to keep it out of Twitter's hands. The report contends that Instagram CEO Kevin Systrom first received an offer and term sheet from Twitter and then leveraged that for a $1 billion payday earlier this month from the social-networking giant.
Systrom used a pending funding round with Sequoia and Greylock to pressure Twitter to make an offer, a source tells VentureBeat. However, Instagram reportedly did not sign the offer, said to … Read more