Browsing: Kevin Systrom
The founders of Instagram are leaving Facebook after growing tensions with CEO Mark Zuckerberg over the direction of the photo-sharing app.
A lot of people are scratching their heads this week at the news that Facebook is acquiring photo-sharing site Instagram for US$1bn. The allure of retro-styled photo filters is pretty weak justification for a price tag that high. But of course it’s not about the photo filters, it’s about the fact that Instagram engages your
Instagram CEO Kevin Systrom netted US$400m for selling his two-year-old startup to Facebook for $1bn. That’s according to a report by Wired, which cites sources indicating that Systrom holds 40% of the company he founded — an impressively large chunk for any entrepreneur at the time of exit, let alone one on his first company