Around the Net
The Story Behind Facebook's Instagram Deal
- Vanity Fair, Monday, May 6, 2013 11:49 AM
Vanity Fair gives Kara Swisher 4,450 words to lay bare Facebook’s $1 billion acquisition of Instagram, and the startup’s found Kevin Systrom. “Systrom was overwhelmed by [Facebook
founder Mark] Zuckerberg’s massive offer and intensity, which blurred his focus on keeping Instagram independent,” Swisher writes. Said Systrom: “I’m not sure what changed my
mind, but [Zuck] presented an entire plan of action, and it went from a $500 million valuation from Sequoia to a $1 billion [one from Facebook].”
