Photo: Fenwick & West
A lot has been written about how Facebook CEO Mark Zuckerberg and Instagram CEO Kevin Systrom personally negotiated the terms of the social network’s $740 million deal to buy the mobile photo-sharing startup.But the truth is it took a lot of smart lawyers to get the deal done—right up to today’s fairness hearing in San Francisco, where California regulators ruled that the deal could go forward.
One of the key players was Greg Roussel of Fenwick & West. At the hearing, he deftly led Facebook executive Amin Zoufonoun, the company’s director of corporate development, through his testimony.
Roussel has done a large number of deals for Facebook—more than 25, according to his bio page.
That’s astonishing when you think that Facebook only started acquiring other companies in 2007.
He’s been at Fenwick & West since 1998, which means he’s seen the tech sector through multiple boom and bust cycles.
You’d need that kind of endurance to pull off a deal like Facebook’s acquisition of Instagram, which started with a three-day sprint to get a definitive agreement signed in April, rode out the rocky IPO, and then jumped over a series of regulatory hurdles.
Now, thanks to Roussel and his colleagues, Facebook’s almost at the finish line.