Instagram co-founders Kevin Systrom and Mike Krieger left the company last year due to tensions with Facebook CEO Mark Zuckerberg. Systrom, who did not give much details about the problem after separation, answered questions about selling Instagram to Facebook at an event in which he participated.
The journalists asked Systrom, during the event, he would sell the company to Facebook if he would see the same things again. Systrom answered this question with the following sentence: "If someone came to you and offered you $ 1 billion for 11 people, what would you answer?"
Kevin Systrom on Facebook – Again the acquisition of Instagram: "When we offer you a billion dollars for 11 people, what do you say?"#dealbook
– Dylan Byers (@DylanByers) November 6, 2019
This Systrom statement recalls the allegations of monopolization discussed in the US Senate on Facebook. At this point, after the FTC opened an antitrust investigation against Facebook in June, the Justice Ministry also opened a new lawsuit against the company for antitrust supervision.
In my case, Facebook's acquisition of new emerging companies by offering high prices is one of the most important measures taken to dominate the market. It should be noted that the same companies have blocked initiatives that refuse the purchase of tech giants such as Snapchat. From this perspective, it is possible to state that Systrom's profits have been profitable by selling its initiative to Facebook.