Instagram Originally Asked Facebook for $2 Billion
In the three days leading up to his acquisition of the photo-sharing app Instagram, Facebook CEO Mark Zuckerberg talked the startup’s founder, Kevin Systrom, down to $1 billion from his original offer of $2 billion, according to the Wall Street Journal.
Instagram had just secured $50 million from Sequoia Capital and other investors, bringing the company’s valuation up to $500 million. The company’s user base jumped to 35 million people after they released Instagram on the Android.
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