Twitter Beaten By Facebook for Instagram Purchase

Jack Dorsey, Executive Chairman of Twitter was given a lot of criticism when he allowed a company that he had personally invested in to go into the open arms of Facebook. Apparently, Dorsey did try to Twitterize the photo sharing application, Instagram but their bid did not succeed. A story from the New York Times set aside a small part at the end of the long article just for Twitter’s attempt to purchase it before Facebook.

According to people ‘in-the-know’ about the incident, said that Twitter were very much interested in purchasing Instagram and the biggest hint was that Dorsey himself was using Instagram on a daily basis but has stopped since the Facebook deal went through. As to whether it is because he is unhappy to see it in the hands of the social networking site remains to be seen because a spokeswoman from Twitter declined to comment about the matter. Although the sale to Facebook might hurt his pride as the Chairman of Twitter, he along with 9 employees and 12 other investors will probably make a bit of money from the $1 billion acquisition by the social networking giant.