Twitter won't 'copy' Facebook's Instagram purchase
17th Apr 2012 | 09:32
Has 'own strategy' to worry about
Twitter's CEO Dick Costolo insists that the company won't be rushing to purchase an Instagram rival, despite reports that the company hoped to snap up the retro camera app before Facebook did.
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Speaking to reporters in Japan, Costolo explained that it's no biggie, Twitter's got its own strategy for this kind of thing, okay? They don't need no copycat service.
"I think that sometimes there is a tendency for companies to react to events in the marketplace that are inconsistent with their strategy, and I think that tendency is a mistake," he said, citing the video sharing sale frenzy that happened after Google bought YouTube.
"You can look at all sorts of other similar cases in the past when an event like this happens and people try to react to it. Copying it is never a good idea - at least history would say it's not a good idea.
"We will make sure that we execute on the strategy that we have and not one that's been laid down for us based on events that happen in the marketplace," he concluded.
What he didn't add is whether or not that the strategy features buying a photosharing service like Instagram, which seemed on the cards until Monday April 9 2012 when Facebook dropped an outlandish $1 billion (around £630 million) on the app.