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Report: Instagram Agreed To $525 Million Offer From Twitter Before Accrepting $1 Billion Facebook Buyout

He said she said

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Weeks before he accepted a $1 billion buyout offer from Facebook Inc, Instagram CEO Kevin Systrom had verbally agreed to a $525 million offer from Twitter, according to a report in The New York Times citing unnamed sources close to Twitter and Facebook.

Twitter executives were then shocked that Systrom went ahead with the Facebook deal without giving them a chance to make a counteroffer, the Times reported.