Feds Probing Facebook-Instagram Deal

Facebook CEO Mark Zuckerberg
Zuck. Photo: Justin Sullivan/Getty Images

The Federal Trade Commission has launched a competition probe into Facebook's $1 billion acquisition of photo-sharing application Instagram, according to a Financial Times report. Experts for the Financial Times speculate that the probe — routine in any deal for more than $68 million — could take six to twelve months. But Facebook was a bit more wishful in its IPO documents, writing that the the deal ought to close in the second quarter. The experts do expect that the deal will ultimately go through; however, Facebook may not integrate Instagram technology or its staff into its site until the deal is approved, a delay that will prolong Facebook's effort to advance its mobile strategy.