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> Facebook paid $1 billion for Instagram, mainly to hire its 13 employees. I don't usually like to nitpick, but this just seems totally incorrect.
by akjetma 11y ago
> Facebook paid $1 billion for Instagram, mainly to hire its 13 employees.
I don't usually like to nitpick, but this just seems totally incorrect.
- terravion 11y agoRight there with you, given the network effect of the underlying business, it seems crazy that this wouldn't be most or all of the value of the company. Moreover, it is not a stunning realization that not everyone likes their job ...even in tech. Or that employers with a lot of technical drudgery would have to offer higher wages, perks, and more job security to recruit.
- xcavier 11y agoYes and no. Facebook had tried mobile and failed, and there was clear fear it could not cross the chasm from desktop web to mobile web/app. Instagram was 'born' mobile, and Facebook was very motivated to ingest their thinking/culture/skills.