Facebook Pays $521M For Instagram

It was widely believed that Facebook paid $1 billion for photo-sharing site Instagram. But, we now know that’s not true. According a 10-Q quarterly report filed with the SEC this week, Facebook paid a total purchase price of $521 million worth of about 12 million vested shares of our Class B common stock and $300 million in cash. “Based on the time the shares were issued, it comes to about $715 million,” WebProNews reports.

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