Facebook, the world’s largest social media platform, made Instagram its part in 2012. This huge 1 billion dollars shocked the world and changed social media. Now, a big revelation has come about this deal. A leaked email revealed that Mark Zuckerberg made this deal while keeping Instagram’s capability in mind and had the idea of breaking the competition.
Instagram Became Popular In Just 2 Years
Facebook has now become a meta platform. Along with Facebook, it includes big social media apps like Instagram and WhatsApp. Instagram was launched in 2010. The focus of this app was on photo sharing. On the other hand, Facebook was inclined towards content-based platforms. This app became popular rapidly in just two years.
People have found other social media platforms than Facebook. Mark Zuckerberg’s attention was also drawn to these things. He saw a Facebook competitor on Instagram. After this, he started preparing to buy Instagram so that Facebook would not face any threat.
Facebook Bought Instagram For 1 Billion Dollars
According to a CNBC report, Instagram’s value was $1 billion in 2012. Now, this app has achieved a market value of $500 billion. Leaked emails have revealed that this $1 billion valuation was also Mark Zuckerberg’s brainchild.
Apart from Instagram, he also watched many mobile app companies. In an email to Facebook’s then-CFO David Ebersman, he said that companies like Instagram have acquired millions of users. Their growth is fast. Their team is small, and they do not have revenue. They may not have a business, but they have created their network. If these companies become big, they can cause a lot of trouble for us.
Mark Zuckerberg Understood The Future
He wrote that if we give these new companies a fantastic price, like $500 million or $1000 million, they may be eager to sell the company and willing to share in Facebook’s success at a reasonable price. However, the authenticity of this email cannot be verified at present. However, this clearly explains Mark Zuckerberg’s thinking about the future.
