Facebook finally got the green light from FTC or Federal Trade Commission
to buy Instagram, world’s one of the largest photo sharing website. According
to the Los Angeles Times reporter Jessica Guynn (according to a tweet), the
hearing which Facebook was waiting for was finally declared in its favour today
and now Facebook can take steps to acquire Instagram. A screen shot of Guynn's tweet is given below.
However, there is no confirmation from Facebook, Instagram or FTC
yet. But, FTC has issued a report last week which stated that they are done
with all the investigations. It is in the hearing Kevin Systorm of Instagram mentioned
that the negotiations began in Easter Weekend and there were words out that many other companies
approached it. But according to Guynn, Instagram had never received any formal
offers. The tweet which revealed the fact read as "In hearing, @kevin makes clear that there were no
actual offers/term sheets on the table from Apple or Twitter when Facebook made
its offer." But for more information we will have to wait for
confirmation from official authorities.
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