Here’s a rumour we haven’t been able to confirm.
Before Facebook bought Instagram for $1 billion a year ago, Apple was also in the mix, trying to buy the photo-sharing app.
We heard this piece of gossip from a very plugged-in person in the deals community.
Again, we have not been able to confirm it.
(Duh. It’s Apple, the most closed-off company in the Valley.)
Anyway, the source told me Apple’s interest in Instagram is a sign that the company is slowly expanding the kinds of companies it acquires. Right now, Apple pretty much only buys small companies with good technology or good people, in order to bolster existing products. Our source says they are now looking at bigger buys that add customers and users.
That would be quite the shift.
One that would benefit our source!
So … We’ll see?
OK, gossip time over.
You may carry on.
NOW WATCH: Tech Insider videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.