Hacker News Reader

Are they not still a private firm? Who is the due diligence owed to? I'm sure they've been watching this and mulling it over for quite some time and that the folks in charge approve. That's all they need to do.

View on HN

> Who is the due diligence owed to?

Um...themselves?? You don't spend a billion without doing due diligence for yourself.

Exactly. The fact that the shareholders are private rather than public makes no difference -- it's still a billion dollars.

Unless Zuckerberg used his credit card. With that kind of expense he must be trying to get to the ISS on mileage. ;-)

Now, more seriously, Instagram's size makes due diligence a lot easier.

Reply on news.ycombinator.com