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FBN’s Shibani Joshi with news that Facebook CEO Mark Zuckerberg personally reached out to Instagram CEO Kevin Systrom to hammer out its acquisition.
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-- -- -- -- -- Well Facebook's recent acquisition -- minister -- shows once again that FaceBook is a one man show and that man is controlled and that show is controlled by one man Mark Zuckerberg.
According to the Wall Street Journal Zuckerberg personally reached out to instant grand CEO about acquiring his company.
-- you -- as Zuckerberg house to hammer out the deal and just one weekend.
Where Zuckerberg was able to Whittle down the price tag of -- -- from.
Two billion dollars to just one billion dollars mind -- there's like twelve employees -- that's company.
Only after the deal is -- -- Zuckerberg alert his board of directors to what would become.
Facebook's largest acquisition ever the reason why because he did -- need to remember is that whoever -- 28% of Facebook's stock.
But controls 57% of voting rights giving him the -- and to make his own decisions without board approval.
These kinds of fast deals in very commonplace among start -- -- when FaceBook does go public we believe next month.
Will there be a call from Cheryl what shareholder is.
For the board to have more power I guess the question we're gonna see play out but that is one of the biggest criticisms I know that you -- -- Charles.
Is that he has too much power as -- CEO.
I think Google they just took more power's out you know -- when you invest in those stocks your co owner but you only Iowa where right -- -- went on for right you're not gonna get a lot of in that in that one.
You might be what they call a speculator I'm --
