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Mark Zuckerberg is adamant that Instagram should not be broken off from Facebook

Facebook CEO Mark Zuckerberg gave a full-throated defense of his company's ownership of Instagram on Wednesday, describing the hefty competition that the combined company faces in the market.

Additionally, Facebook is facing investigations and probes from the Federal Trade Commission, the Department of Justice and 47 attorneys generalrelated to antitrust issues.

Zuckerberg began his latest defense byhighlighting the competitive environment Facebook wasin before the deal took place.

He's trying to make the point that whatever market strength Instagram now has is the result of the work that's taken place since Facebook acquired it.

There's no questioning the value that Instagram has brought to Facebook, allowing it lure a younger demographic and giving it a product that was entirely built for smartphones.

Facebook was hardly generating any revenue from mobile ads, a risk so severe that it weighed on the stock for many months after the IPO.

Original article
Author: Cnbc

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