The number the deals team had in mind for Instagram was around $80 million. Costolo said that $80 million was far too expensive for such a young company that was just a better way to share photos within Twitter. It was unlikely to compete with Twitter on being a resource for news and updates from public figures. Others in the room guessed there was another element to his thinking: if the deal came to pass, Dorsey would get credit for it. The discussion was tabled.
