Instagram only had 13 employees when it was bought by Facebook for $1 billion in a combined cash and stock deal on April 9, 2012. Instagram had closed a $50-million round at a valuation of $500 million right before the sale. Founded in 2010 by Mike Krieger and Kevin Systrom, the app had zero revenue at the time of acquisition.
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05:45 pm on 09 Apr
Source: Inshorts
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