Zuckerberg Considered Instagram Spinoff, Court Hears
Meta Platforms CEO Mark Zuckerberg suggested spinning off Instagram seven years ago, in part because Instagram’s growth was eroding Facebook’s edge and he worried about an eventual breakup by regulators, according to newly disclosed emails shown in court on the second day of an antitrust trial between the Federal Trade Commission and Meta.
The disclosure was one of a number of startling revelations to emerge from the trial so far, which also included a Meta offer to buy Snap for $6 billion in 2013. While Meta’s interest in acquiring Snap had been previously reported, its willingness to pay that much had not. Zuckerberg told colleagues at the time that Snap CEO Evan Spiegel turned down the offer because “he just wants to build the company on his own,” according to a 2013 email shown in court.
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