Facebook acquires Instagram for $1 Billion.Yes, it’s a BIG news!!
For a 13 employee and only 2 year old company, it must be a very big news!
Here’ who nets how much out of this deal:
CEO – Kevin Systrom: 40% – $400 million
Co-founder – Mike Krieger: 10% – $100 million
VC Firms:
Benchmark Capital – around 18% – $180 million
Andreessen Horowitz – 10% – $100 million
Baseline Ventures – 10 % – $100 million.
Employees:
There are only 13 of them!! All will get parts of around $100 million (depending on how long the employee has worked).
Mark Zuckerberg posts about this acquisition on his own Facebook wall. Read it here.
Instagram was recently in news as it got 1 million new users within a day of launch on Android. It already has 30 million users on iOS.
Since our’s is also a very small team like Instagram, I was excited to write this post! One day…! 🙂
* All are approx numbers. With inputs from the internet.
Whoa !! Life time achievement for those 13 employees…
Ya and that too from zero to hero in 2 years!! :):)