In Instagram Acquisition, Facebook BOD was all Out of Picture

According to report in Wall Street Journal; Facebook Inc. CEO, Mark Zuckerberg, on morning of Sunday, April 8, "told, not consulted" the Board about the Acquisition of Instagram a photo sharing service.

The most shocking and Hot news is that Mark Zuckerberg, Chief Executive Facebook Inc. did this $1 Billion deal at his Own -- all without his Own Board of Directors and without involvement of any Bankers Instagram "Hot Photo-Sharing App's CEO, Kevin Systrom, ask price for his company was $2 Billions.

Journal Reported that the negotiations started three days before the Facebook Board was told about the acquisition. Zuckerberg started direct negotiations with Systrom by inviting him to drive down from San Francisco to meet with him at his Palo Alto home.

The main story Line that is Shocking for the community is

"Facebook CEO, brought down the asked price of $2 Billions without involving Bankers and even his Own Board of Directors"