Good morning! Here’s the news:
- Facebook’s acquisition of Instagram has been approved by the Federal Trade Commission.
- Facebook had originally agreed to buy Instagram for $1 billion in cash and stock back in April, but based on Facebook’s current stock value, that deal is now worth $747 million.
- Citigroup has come out and blasted Nasdaq for being “grossly negligent” in the way it handled the Facebook IPO.
- Fred Wilson says the problem with venture capital right now is that “there’s too much money in too few hands.”
- HP earnings were in line with Wall Street estimates as sales declined by about 5% to $29.7 billion.
- Business Insider’s Matt Lynley argues that Amazon may be the perfect company to buy Zynga. Amazon needs developers for games and for the Kindle Fire, and Zynga could use the guidance of a chief executive like Jeff Bezos.
- Google has come up with an algorithm to make sure that it hires and promotes enough women.
- Apple has pulled its terrible ‘Genius’ ads from YouTube and Apple.com.
- Here’s how much startup founders are allowed to pay themselves.
- In case you missed it: Here’s what it’s like working at LivingSocial’s Washington DC headquarters.
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