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- raf0
Fun times. This bubble has a good chance to outburst the 2000 dotcom one.
- insomnie0
I'm not saying it's a conspiracy, but it's a conspiracy!
"Last week, Instagram closed a $50 million financing round with several prominent investors, including Sequoia Capital, an early backer of Google; Thrive Capital, the firm run by Joshua Kushner; and Greylock Capital, an early investor of LinkedIn. The round valued the photo service at about $500 million, according to one person with knowledge of the matter, who requested anonymity because the discussions were private. With Facebook's purchase, one week later, that investment has now doubled in value. " - NYT
- tymeframe0
They definitely overpaid. I mean, I got the app for free.
- monNom0
Good buy. Instagram's growth rate is enormous. A coupe of years from now, they may have over 17 trillion users!
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- 3030
Yahoo paid $35 million for Flickr.
- raf0
Sequoia Capital, an investor in both Google and YouTube, did that before. I.e. moved wallet from one pocket to the other to make it look like 1.6 billion actually changed hands (it was paid in Google stock which went instantly up).
- MHDC0
instascam
- Maaku0
Simpleshape
- ali0
“We will try to help Instagram continue to grow by using Facebook’s strong engineering team and infrastructure,” wrote Facebook CEO (and a hacker himself) Mark Zuckerberg in this morning’s announcement. And Instagram CEO Kevin Systrom noted in a blog post, “We’ll be working with Facebook to evolve Instagram and build the network. We’ll continue to add new features to the product and find new ways to create a better mobile photos experience.”
Translation:
We will evolve instagram to gather even more information about you to turn this into a profitable advertising media for us.
- dbloc0
I was actually considering stating an account last week. I'm over it now.
- CALLES0
i used to like instagram before it became mainstream
- ESKEMA0
I personally don't give a fuck. Congrats to the Instagram team for making a billion out of no revenue at all in so little time.
- BusterBoy0
Instagram is now worth more than the New York Times. If that isn't totally fucked up, I don't know what is.
- Christian0
Haha, don't know what the fuss is with all the "i'm deleting my account", go ahead. All I can add is that I'm happy for instagram folks.
- ********0
good for them.
- ali0
Surely if say at least 1000 of us all put our collective heads together we could come up with the greatest app of all time fund it with kickstarter then sell to facebook for a billion dollars + then share a cool 1M between us??
- Screw kickstart, I'll get the cash. So, what's the idea?
*Scratches headgoldieboy
- Screw kickstart, I'll get the cash. So, what's the idea?