Yup, he was scared shitless!

Earlier this week, I pointed out that Facebook was scared shitless to buy Instagram for $1 billion in stock and cash. Today, Evelyn Rusli reports:

Less than 24 hours after the ink dried on Instagram’s latest financing round — an investment that valued it at roughly $500 million — Mr. Zuckerberg placed a call to Kevin Systrom, Instagram’s chief executive, according to people with knowledge of the matter, who spoke on the condition of anonymity because the discussions were private.

Mr. Zuckerberg was blunt: Facebook wanted to buy Instagram. Over the next 48 hours, Facebook and Instagram hammered out the details for a $1 billion cash-and-stock deal, the social network’s largest acquisition to date, the people said. By the end of Sunday, the deal was done and announced the following day.

Scared shitless – there is no other way to describe it!

Responses

  1. nikunjk1234 says:

    April 13th, 2012 at 11:58 am Reply

    Love your theme. Custom? If not, where can I get this theme?

    1. Om Malik says:

      April 13th, 2012 at 6:27 pm Reply

      Yes. Super custom

  2. Scott Kitchen (@scokitchen) says:

    April 12th, 2012 at 6:10 pm Reply

    Along with @Naveed Anwar I use Facebook less and less. I used Path from the very day it was released to share photos with friends. When it was updated to include a bunch of other features, a lot more close friends joined. Path has (nearly) replaced Facebook for me, and I use instagram occasionally too.

  3. gfsnell3 says:

    April 12th, 2012 at 5:24 pm Reply

    I hardly think you need to be scared to make a decision. I just decided to have a bowl of popcorn and did so without any fear.

  4. Maria Lorna Azul Kunnath says:

    April 12th, 2012 at 4:06 pm Reply

    instagram like other photo editing sites is overvalued…too much money laying around to spend

  5. Don Cole says:

    April 12th, 2012 at 3:07 pm Reply

    Looks like it is fashionable to knock facebook

  6. Roberto Inetti (@Taytus) says:

    April 12th, 2012 at 1:33 pm Reply

    I’m not a very smart person, but if the valuation was $500M, why the offer was 1B?

    Maybe because “he was scared shitless!”.

    “Using Instagram for free isn’t cool. You know what’s cool? Paying a billion dollars for it.” -Mark Zuckerberg

    http://www.funnyordie.com/videos/066e86b03e/the-filtered-network

  7. Mayank Jain says:

    April 12th, 2012 at 1:31 pm Reply

    Typo – s/sacred/scared

    1. Om Malik says:

      April 12th, 2012 at 1:48 pm Reply

      Oh crap. Thanks. fixing it. My eyes are totally glazed over. Must shut down the computer.

  8. Oliver Roup (@oroup) says:

    April 12th, 2012 at 1:10 pm Reply

    Hm, other ways to describe it? How about “decisive in the face of strategic shifts”? Or “not afraid to play aggressively for what he wants”?

    1. Om Malik says:

      April 12th, 2012 at 1:16 pm Reply

      No disagreement on that, @Oliver. If you are not scared, then you can’t take decisions.

  9. Naveed Anwar says:

    April 12th, 2012 at 1:06 pm Reply

    Agree…..I hardly post on FB… I use Instagram and now Path….so users were building their photo databases in the cloud on these apps…..hopefully they keep the app going..

    1. Om Malik says:

      April 12th, 2012 at 1:11 pm Reply

      I am with you. I have never knowingly posted on FB lately except for Timeline header photo.

  10. Pritam Pebam (@ptamzz) says:

    April 12th, 2012 at 1:02 pm Reply

    First line says “…Facebook was SACRED shitless to buy…”.

    1. Om Malik says:

      April 12th, 2012 at 1:48 pm Reply

      @pritam

      Apologies for not understanding what you were saying. Fixed.

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