{"id":107,"date":"2012-04-14T17:54:58","date_gmt":"2012-04-14T17:54:58","guid":{"rendered":"http:\/\/irohit.com\/diary\/?p=107"},"modified":"2012-04-14T17:54:58","modified_gmt":"2012-04-14T17:54:58","slug":"instagram-gone-in-a-instant-2","status":"publish","type":"post","link":"https:\/\/irohit.com\/blog\/instagram-gone-in-a-instant-2\/","title":{"rendered":"Instagram = gone in a instant"},"content":{"rendered":"<p>Instagram sold for a <del>millions<\/del> billion. Crazy and scary! I am always skeptical of figures like a million, 100 million, billion or something like 10%, 10 times.. round figures as we generally call them; most of the times these are numbers that are just pulled out of thin air. It says to me that there was not a moment of thought given to the actual process of valuations of the entity in question.<\/p>\n<p>Here is my thought of how this deal may have come about<\/p>\n<p>In late 2010 after launching instagram<br \/>\nInstagram founder 1:<em> Dude, this app is getting famous<\/em><br \/>\nInstagram founder 2: <em>Ya man. Wouldn\u2019t it be cool if we could actually sell it to the big guys<\/em><br \/>\nInstagram founder 1: <em>Sell this \u2026 ya right .. maybe some day some idiot will offer us a billion for it<\/em><br \/>\nInstagram founder 2: <em>billion, get real dude\u2026<\/em><\/p>\n<p>Mark Zuckerberg on 3 Apr when Instagram was launched: <em>Let me check out this Instagram thing on my Android<\/em><br \/>\nMark Zuckerberg:<em> WTH! it\u2019s only a single picture surrounded by all empty space. And 30 odd million people using it. I can damn well put my Facebook ads in here\u2026 Those Instagram guys are dumb\u2026<\/em><\/p>\n<p>Mark Zuckerberg to instagram founders:<em> Guys I wanna put my ads on your App. Will you sell?<\/em><br \/>\nInstagram founder 1: <em>Noway dude, not for a billion bucks!<\/em><br \/>\nMark Zuckerberg:<em> I will give you a billion bucks<\/em><br \/>\nInstagram founder 1: <em>Are you serious?<\/em><br \/>\nMark Zuckerberg: <em>Ya, its not like the billion is from my pocket. Some stupid investor will pay for it<\/em><br \/>\nInstagram founders:<em> Cool, it\u2019s a deal!!!<\/em><\/p>\n<p>What bothers me is not that Facebook bought Instagram, but how people like Mark Zuckerberg value businesses. I know of companies who work their asses to generate revenues, growth, profits, and then there are people like Zuckerberg who BTW in a few months head a 100 billion dollar company, throw fancy figures of money that they don\u2019t even have at things just because they don\u2019t know how to deal with business ideas. It\u2019s like if you can\u2019t beat it, just buy it.<\/p>\n<p>Cleary, people who are going to invest in Facebook and the likes, must carefully reason out their investment in tech companies especially the social kinds who are yet to generate serious dollars.<\/p>\n<p>Also, with the buyout, Instagram &#8211; not so cool anymore, atleast for me&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Instagram sold for a millions billion. Crazy and scary! I am always skeptical of figures like a million, 100 million, billion or something like 10%,<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[],"_links":{"self":[{"href":"https:\/\/irohit.com\/blog\/wp-json\/wp\/v2\/posts\/107"}],"collection":[{"href":"https:\/\/irohit.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/irohit.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/irohit.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/irohit.com\/blog\/wp-json\/wp\/v2\/comments?post=107"}],"version-history":[{"count":0,"href":"https:\/\/irohit.com\/blog\/wp-json\/wp\/v2\/posts\/107\/revisions"}],"wp:attachment":[{"href":"https:\/\/irohit.com\/blog\/wp-json\/wp\/v2\/media?parent=107"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/irohit.com\/blog\/wp-json\/wp\/v2\/categories?post=107"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/irohit.com\/blog\/wp-json\/wp\/v2\/tags?post=107"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}