Instagram co-founder Kevin Systrom on Mark Zuckerberg’s Facebook buying his company: ‘…he believed we were a threat to their growth’

Instagram co-founder Kevin Systrom has recently testified against Facebook-parent Meta in a federal antitrust trial. The co-founder of the popular image and video sharing platform stated that his start-up was starved of resources after Meta’s acquisition. He claimed that this happened because Meta CEO Mark Zuckerberg was afraid of Instagram’s success. In a testimony that lasted more than six hours, Systrom supported the US government’s allegations that the social media major purchased Instagram in 2012 as part of a “buy-or-bury strategy.” Moreover, Systrom’s testimony also sharply contradicted Meta’s defence in the US District Court for the District of Columbia.

“Mark was not investing in Instagram because he believed we were a threat to their growth,” Systrom, who made millions when Zuckerberg bought his company, said in his testimony, the New York Times reported.