{"id":10072,"date":"2012-04-17T14:40:32","date_gmt":"2012-04-17T12:40:32","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=10072"},"modified":"2012-04-17T14:56:40","modified_gmt":"2012-04-17T12:56:40","slug":"twitter-not-reacting-to-facebookinstagram-acquisition","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/internet\/10072\/twitter-not-reacting-to-facebookinstagram-acquisition\/","title":{"rendered":"Twitter not reacting to Facebook\/Instagram acquisition"},"content":{"rendered":"

Twitter’s<\/a> CEO told reporters on Monday (16 April 2012) that Facebook’s<\/a> acquisition of Instagram<\/a> would not affect his company’s strategy – this after reports circulated stating the social network had itself set its sights on Instagram.<\/p>\n

In an article posted by the New York Times, it was reported that Twitter had expressed interest in acquiring Instagram a few months ahead of Facebook’s acquisition deal.<\/p>\n

Twitter’s co-founder and executive chairman, Jack Dorsey<\/a>, was an investor in the company during it early days, and was reportedly an avid user of the service.<\/p>\n

Instagram had previously rebuked any and all attempts at being acquired by companies, seemingly intent on moving forward as an independant company – until Facebook’s Mark Zuckerberg<\/a> approached the company with a $1 billion offer in cash and Facebook stocks, that is.<\/p>\n

Not affecting Twitter’s strategy<\/strong><\/p>\n

Reacting to the acquisition, Twitter’s CEO, Dick Costolo<\/a>, said that the purchase would not push the company to look at acquisitions to simply counter Facebook’s move, reported the Wall Street Journal.<\/p>\n

\u201cI think that sometimes there is a tendency for companies to react to events in the marketplace that are inconsistent with their strategy…and I think that tendency is a mistake,\u201d Costolo told reporters.<\/p>\n

He cited the rush to buy video-sharing sites after Google<\/a> bought YouTube<\/a> in 2006, and how those ventures never led to much success.<\/p>\n

“History would say it\u2019s not a good idea,\u201d he continued, \u201cWe will make sure that we execute on the strategy that we have – and not one that\u2019s been laid down for us based on events that happen in the marketplace,\u201d he added.<\/p>\n

A part of the company’s strategy is to focus on evolving Twitter’s application programming interface (API) to allow companies to build products into the social network.<\/p>\n

Related article<\/strong><\/p>\n

Is Facebook inflating the social media bubble?<\/strong><\/a><\/p>\n

Targeting the mobile market<\/strong><\/a><\/p>\n

Facebook to pay $1bn for Instagram<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Twitter’s CEO told reporters that Facebook’s acquisition of Instagram would not affect his company’s strategy – this after reports circulated stating the social network had itself had its sights set on Instagram.<\/p>\n","protected":false},"author":14,"featured_media":1791,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9882],"tags":[25,2404,45,2282,2403,1244,93],"class_list":["post-10072","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-internet","tag-active","tag-dick-costolo","tag-facebook","tag-instagram","tag-jack-dorsey","tag-mark-zuckerberg","tag-twitter"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/10072","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=10072"}],"version-history":[{"count":6,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/10072\/revisions"}],"predecessor-version":[{"id":10087,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/10072\/revisions\/10087"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/1791"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=10072"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=10072"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=10072"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}