Mark Zuckerberg’s Lawyers Watched From Afar As Instagram Deal Was Being Negotiated
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry
When Mark Zuckerberg decided that he wanted to buy Instagram, he had Instagram CEO Kevin Systrom come to his $7 million Palo Alto home to negotiate. Lawyers and bankers were not consulted during the deal, but they were present and were watching from afar. The New York Times wrote a riveting article today about how Facebook turned down an offer from Yahoo! and continue to grow.
“As the deal came to a close, Mark and Kevin sat outside and ate steaks and ice cream, while the lawyers all sat inside watching ‘Game of Thrones,’ ” said a person that was present at the house in an interview with The New York Times. The “two 20-somethings were alone hammering out the terms of the deal.” The Instagram deal represents how much control Zuckerberg has retained during Facebook’s growth over the last 8 years.