Twitter tried to buy Instagram months before Facebook
It’s been reported that Twitter tried to buy Instagram just months before Facebook bought it for $1 billion.
Jack Dorsey, Twitter’s CEO and co-founder, looked into investing in the photosharing app and showed a blatant interest by posting photos to his Twitter account on a daily basis. Dorsey has since stopped posting Instagram photos after Facebook’s deal was announced.
However, Twitter won’t be looking into similar moves in order to rival Facebook.
Twitter’s CEO Dick Costolo said during a visit to Tokyo on Monday: “I think that sometimes there is a tendency for companies to react to events in the marketplace that are inconsistent with their strategy [...] and I think that tendency is a mistake.”
Facebook aims to build on Instagram’s features as an independent app, rather than integrate it into the social network. The retro camera app can still be used by Twitter, but the company has made it known that it will explore other opportunities in order to develop business.
Costolo said: "We will make sure that we execute on the strategy that we have and not one that's been laid down for us based on events that happen in the marketplace.”
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