/// The Money Shot: Kara Swisher on Instagram’s Billion-Dollar Ride in Vanity Fair

May 6, 2013  |  All Things Digital


There’s no picture of the moment when everything changed for Kevin Systrom. But if there were, it would look something like this: A lanky, very tall, dark-haired man in his late 20s sits on a bench at the Caltrain commuter station in Palo Alto, California. A sepia tone and weathered patina might underscore the mood of weighty contemplation. It was early April of last year, and Systrom was waiting for his business partner, Mike Krieger, to arrive from San Francisco. Systrom had just left Mark Zuckerberg’s nearby house and was still digesting the offer that the Facebook founder and CEO had made him: To buy Instagram, the photo-sharing app that Systrom and Krieger had launched just 18 months before. The price Zuckerberg offered was $1 billion — $300 million in cash and the rest in Facebook stock, an especially generous-seeming deal, on the eve of his company’s much-anticipated initial public offering. The offer was even more impressive given Instagram’s size and age

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The Money Shot: Kara Swisher on Instagram’s Billion-Dollar Ride in Vanity Fair


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