A bunch of cunts, mostly in the Australian sense. Except that one guy.

Facebook buys Instagram

http://bit.ly/ImYykk

Hmm.
Permalink what are you reading for? 
April 9th, 2012 1:25pm
Isn't instagram just an app that puts a photo through a sepia filter, adds a vignette effect, reduces the resolution, and then lets you email it to someone?

What the fuck is the point, exactly?
Permalink muppet 
April 9th, 2012 1:29pm
Here's the point of Instagram -- after the Android version was released a few days back (over a million downloads in the first 24 hours), loads of Instagram hipsters openly declared their disgust that the lesser platform gained this tool. They admonished Android users not to follow them.

Instagram is attitude in a network. It is the cheapest, most superficial mechanism of feeling edgy and artsy.
Permalink df 
April 9th, 2012 1:42pm
...
Permalink muppet 
April 9th, 2012 1:45pm
Holy mother of God.... 1 BILLION dollars...?
Permalink Colm 
April 9th, 2012 1:45pm
Not sure what the ellipsis is supposed to mean, however Facebook is buying the network. The network whose existence I tried to explain.
Permalink df 
April 9th, 2012 2:13pm
Instagram is a web site that people spend time on that isn't FaceBook.

That's why it was bought. To reduce the number of sites that aren't FaceBook that people spend time at.
Permalink Idiot 
April 9th, 2012 3:06pm
The way I understand it, the hipsters left Facebook for Instagram, because FB became too mainstream.

I guess The Great hipster Migration will continue somewhere else now.
Permalink Send private email xampl9 
April 9th, 2012 3:17pm
The bubble's about to pop. Sell, sell if you can!
Permalink Shylock 
April 9th, 2012 3:28pm
COT is next!
Permalink LH 
April 9th, 2012 3:48pm
They bought the wrong company.  All the chicks are headin' towards Pinterest.
Permalink Kenny 
April 9th, 2012 3:49pm
Only days before getting acquired, the VCs brought in a bunch of more investors, reducing ownership percentage of the founders, and redirecting their share to connected bankers and wall streeters:

http://techcrunch.com/2012/04/09/right-before-acquisition-instagram-closed-50m-at-a-500m-valuation-from-sequoia-thrive-greylock-and-benchmark/
Permalink Idiot 
April 9th, 2012 5:04pm
redirecting their share of the facebook windfall
Permalink Idiot 
April 9th, 2012 5:04pm
To summarize, these guys bought a $50 million share on Friday and on Monday their "investment" paid $100 million in the Facebook buy.

They are claiming they had no idea and it's just blind luck, even though the whole thing was arranged by the VCs that arranged the FB deal.
Permalink Idiot 
April 9th, 2012 5:06pm
Instagram revenue to date: $0.

Number of employees: 20

Price paid: $1 billion

Price per employee: $50 million

Average amount received by each of the 7 non-founder employees with equity: $20,000.
Permalink Idiot 
April 9th, 2012 5:26pm
RofL
Permalink CircusAttraction 
April 9th, 2012 5:27pm
My bet: Path is next. People use FB account to login and add Path friends, but use Path exclusively outside of FB.
Permalink Lee 
April 9th, 2012 5:28pm
Wow.  They should have watched that movie, eh?
Permalink SaveTheHubble 
April 9th, 2012 5:59pm
"This is a brilliant acquisition by Zuckerberg. Let's say that Facebook can turn on monetization on mobile clients. That could mean $500 million in revenue on first quarter, $700 on second, $900-$1 billion on third. Looking at it this way paying a billion for Instagram makes a LOT of sense" - Robert Scoble
Permalink Idiot 
April 9th, 2012 7:26pm
"Instagram Was Facebook's Biggest Threat" - Nicholas Carlson

"Giving up 1% of your market cap to take out biggest threat is a savvy move." - Chris Dixon
Permalink Idiot 
April 9th, 2012 7:31pm
Facebook pays 100 trillion for Crazy on Tap.

"This is the smartest move anyone ever made", say all financial and VC bloggers.

"Zuckerburg is a genius for buying Crazy on Tap, which comes with all six of its regular posters." - President Obama
Permalink Idiot 
April 9th, 2012 7:33pm
Financial bloggers were criticizing Zuckerbeg for Facebook's lousy corp governance rules.
Permalink Quant 
April 10th, 2012 3:01am
From Twitter:

Kodak's value for solving every photo flaw in history? $0. Instagram's value for reintroducing all those flaws back into your photos? $1b.
Permalink LH 
April 10th, 2012 9:03am
Sorry I didn't get involved in the chat yesterday. I was still a bit confused.

It does make sense, but the figure is outrageous! Facebook has a bunch of users. A bunch of people use Instagram now instead of FB. The barrier for entry is lower. FB now has access to even more users.

It's to early for anyone to buy Pinterest, certainly one to watch though.
Permalink what are you reading for? 
April 10th, 2012 9:18am
@Idiot

http://www.bbc.co.uk/news/business-17666032

"Reports suggest that $100m will be shared out among the other 11 members of staff, some of whom joined the company just a few weeks ago."

That's more than $20,000.
Permalink Quant 
April 10th, 2012 1:44pm
I'm going to share out a million bucks with all you guys.

So what does that mean?

Also "reports" from who? Who are these mysterious "reporting" people that can not be cited?
Permalink Idiot 
April 10th, 2012 2:48pm
BTW, another article had them as having three engineers on staff, and neither founder is included in that count. The three engineers have done all the development and server work.
Permalink Idiot 
April 10th, 2012 2:50pm
Roll call and bios

http://www.businessinsider.com/instagram-employees-and-investors-2012-4
Permalink Idiot 
April 10th, 2012 2:51pm
Kevin Systrom, CEO. Former product manager. 40% owner, $400 million payout.


Mike Krieger, co founder. Stanford educated "user experience" designer. 10% owner, $100 million payout.


Dan Toffey, "community helper". Has worked there for 2 weeks. Previously worked for Wall Street at the Commodity Futures Trading Commission.


Josh Riedel, "community handler". Former community manager.


Philip McAllister, engineer, hired in January. Worked for Gowalla, then quit in disgust after it was acquired by evil Facebook.


Ryan Gomba, developer, hired two weeks ago.


Bailey Richardson, "community handler". Former community manager. Hired two weeks ago.


Amy Cole, accounting and business operations.


Gregor Hochmuth, engineer, hired in December. Former Google product manager.



Jessica Zollman, "community evangelist" and "user advocate".

NOTE: This 'community' term means customer service if you didn't know.

Shayne Sweeney - developer
Permalink Idiot 
April 10th, 2012 2:58pm
Where is your citation for "Average amount received by each of the 7 non-founder employees with equity: $20,000.", Idiot?
Permalink Quant 
April 11th, 2012 2:46am

This topic is archived. No further replies will be accepted.

Other topics: April, 2012 Other topics: April, 2012 Recent topics Recent topics