As I received the email with the news of Facebook buying Instagram for $1 billion, the first thought in my head was how it made more since if Twitter bought it. Well, it seems like I was onto something because apparently Twitter had high hopes of buying the popular photo sharing app.
Jack Dorsey, Twitter's executive chairman, failed trying to buy the Instagram, a company he invested in as a start-up. The New York Times reports:
His company, according to several people briefed on the matter, had expressed interest in buying Instagram in recent months.If you feel bad for Dorsey, don't. He's one of just 9 employees and 13 investors who received a big payday from Facebook's $1,000,000,000 acquisition of Instagram.
Even with that huge check coming in, it seems Dorsey has some sour grapes. Since Facebook's purchase of Instagram, Dorsey, who was once a user of the app, has not been back since the deal was announced.
