Zuckerberg Defends Meta's Instagram Acquisition Due to 'Better' Camera, Considered Spinoff in 2018

Mark Zuckerberg, CEO of Meta Platforms Inc., took the stand in an antitrust trial in Washington, D.C., to defend his company against allegations by the Federal Trade Commission (FTC) that Meta illegally monopolized the social media market. The FTC claims that Meta's acquisitions of Instagram and WhatsApp were strategic moves to eliminate competition. During the trial, Zuckerberg admitted that Meta purchased Instagram in 2012 because it had a 'better' camera than what Facebook was developing at the time. He explained that the company was conducting a 'build vs. buy analysis' and decided that acquiring Instagram would be more beneficial than building their own camera app. Zuckerberg also revealed that in 2018, he considered spinning off Instagram into a separate company due to concerns about antitrust scrutiny and the potential impact on Meta's business strategy. This consideration was prompted by the rapid growth of Instagram and its potential to hurt the core Facebook platform, as well as the 'strategy tax' of running both apps.