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Why Has Facebook Paid $1BN for Instagram?

2:00 AM ET Tue, 10 April 2012

George Godber, founding partner and fund manager at Matterley Asset Management, told CNBC, "It would be very difficult for us to get involved with Facebook, a 100 billion valuation is going to be hefty for a business that is not generating much profit, I think they are flexing their muscles a little bit ahead of floatation to show just how big they are and what they can do."