Instagram's former CEO testifies Zuckerberg thought the app was a ‘threat’ to Facebook

6 months ago 8

Facebook acquired Instagram in 2012 for $1 billion, but tensions between Mark Zuckerberg and the app’s founders persisted for years afterward. On Tuesday, Instagram’s former CEO and cofounder Kevin Systrom took the stand in Meta’s antitrust trial in Washington D.C and offered a firsthand account of how Zuckerberg viewed the photo-sharing app as a “threat” to Facebook.

Systrom, who ran Instagram until 2018, said that Zuckerberg slowed hiring and other investments into Instagram despite its success. Zuckerberg, Systrom testified, "believed we were a threat to their growth," and as a result "was not investing" in the photo-sharing app, according to testimony reported by The New York Times. As The Times notes, Instagram had only a fraction of the employees as Facebook even after reaching 1 billion users. "As the founder of Facebook, he felt a lot of emotion ...

Source: https://www.engadget.com/social-media/instagrams-former-ceo-testifies-zuckerberg-thought-the-app-was-a-threat-to-facebook-202112282.html?src=rss

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