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Facebook’s complex history has been in full focus lately, as the public considers the future of social media and the man responsible for much of the industry’s growth.
Mark Zuckerberg’s journey from Harvard University outcast to founder of Silicon Valley’s hottest tech startup has been a topic of interest since the release of the 2010 drama "The Social Network," which recounted his complicated story and the founding of Facebook.
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As Facebook’s popularity surged, Zuckerberg began building a social media empire, acquiring some of the most popular startups in the industry. This included purchasing Instagram in 2012 and WhatsApp in 2014, spending $1 billion and $19 billion, respectively.
While this has helped Facebook maintain its dominance, it has also resulted in harsh accusations against the company and legal action. One of Instagram’s founders recently revealed just how far Zuckerberg has been willing to go to stay on top.
A former rival sounds off on Zuckerberg’s leadership
As author Ben Mezrich recounted in his 2019 book, for years, many tech founders built startups with the goal of being acquired by Facebook. In fact, most early-stage founders were willing to turn down venture capital funds from Cameron and Tyler Winklevoss, who sued Zuckerberg over the creation of Facebook, for fear of angering him.
Related: Meta Platforms fights for its life in historical antitrust battle
From the outside, it seemed as though Kevin Systrom and Mike Krieger were living exactly that dream when they sold Instagram to Facebook in 2012 for $1 billion. The two Stanford University graduates had built a startup that took the world by storm, and they sold it for a tremendous profit.
However, Systrom recently revealed the aftermath of the Instagram acquisition, laying out details many people didn’t know. According to his description, Zuckerberg began to starve Instagram of the resources it needed to grow shortly after the deal closed.
As part of the Federal Trade Commission’s (FTC) landmark antitrust case against Meta (META) , Systrom testified that Zuckerberg had opted against investing in Instagram’s growth and success because he saw it as a threat, even after his company acquired it.
“We were by far the fastest-growing team,” he stated. “We produced the most revenue, and relative to what we should have been at the time, I felt like we should have been much larger.”
Systrom noted that he felt Zuckerberg’s action toward Instagram seemed extremely personal, as it had the potential to rival the company he had built.