Facebook made headlines by purchasing the super-popular picture sharing app Instagram for $1 billion. Now word has spread that CEO Mark Zuckerberg himself bought up the software. Haters can say whatever about the social networking site and company. The boss, however, certainly knows how to make a deal. And he made a darn good one.
Some speculated that the Facebook founder was behind the Instagram purchase. Today Cnet reported that it was ZuckerbergÂ—and only ZuckerbergÂ—who made the deal and told the board about it afterwards. This sounds like too much power for one man over a company, but Mark has majority voting rights so he technically controls the company's fate.
Mark Zuckerberg knew what he was doing when he acquired Instagram. It is a very popular app while it was still iOS-exclusive (the new Android version is popular, too). There are some people who use this app to share pictures instead of the regular Facebook and Twitter apps. Had FB let this opportunity pass, another huge company would have scooped up Instagram for itself. That is something Mark did not want.
Facebook (Zuckerberg) has a powerful ally in Instagram now. The plans for its newly acquired app are unknown. But whatever those plans are, those plans are sure to have an impact on social networking.