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Mark Zuckerberg Floated Idea Of Spinning Off Instagram In 2018, According To Documents Shown In Meta Antitrust Trial – Update
The Meta CEO said the email was part of a risk-reward assessment of making acquisitions.
At the time, Meta had its eyes on fast-growing Instagram, and Zuckerberg and the company’s then CFO, David Ebersman, were having an exchange over the potential benefits of an acquisition. Zuckerberg at times meandered a bit in explaining them, trying to point out that they lacked context to what is happening today or to how things eventually transpired with the company’s acquisitions. The FTC sued Meta in 2020, claiming that its purchase of Instagram and of WhatsApp in 2014 were made out of a desire to eliminate competition and maintain its dominance in friends-and-family social networking.
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