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The Federal Trade Commission has approached both Google and Twitter concerning Facebook's $1 billion deal to purchase social photo-sharer company Instagram. According to a source speaking to Reuters, it's not known exactly what details the FTC is curious about, but it was rumored that both these other companies and possibly others were interested in bidding for Instagram--itself growing at a swift rate and thus rapidly increasing in value--which caused Facebook's CEO to move very swiftly and conclude the deal in private without his board's full knowledge. Facebook still plans to conclude the Instagram purchase in the second quarter but first it has to complete its complex IPO, scheduled for next week.
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[Source: Fast Company]
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