Instagram Investor Responds to Critics
When Instagram was sold to Facebook for $1 billion, investors at Andreessen Horowitz walked away with $78 million: a 312% return on a $250,000 investment. When an article in the New York Times suggested that the venture capital firm should have gotten more, co-founder Ben Horowitz fired back with a blog post defending the firm's decision to invest more money in an Instagram competitor called PicPlz.
When Instagram was sold to Facebook for $1 billion, investors at Andreessen Horowitz walked away with $78 million: a 312% return on a $250,000 investment. When an article in the New York Times suggested that the venture capital firm should have gotten more, co-founder Ben Horowitz fired back with a blog post defending the firm’s decision to focus on an Instagram competitor called PicPlz.
It turns out that the venture firm had participated in seed rounds for both companies in 2010.
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in