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I can remember how everybody was laughing about the acquisition: "Waaat? Billions for a chat app? hahaha" It's amazing how things are turning out.

by hknd 8y ago

27182818284 8y ago
I remember not thinking that it was overpriced, but amazed that it became a threat to Facebook worth that in just like 2 years. If I recall correctly, it was a team of 13 at the time of that offer.
mkirklions 8y ago
Well, I think FB has probably lost 100B in value, and as someone who stopped using FB this year because I dont enjoy it anymore- I moved to instagram and twitter. Mind you, 100B for an app that is filled with bots and corporate accounts makes me think whoever did the valuation has never actually used IG.
- saagarjha 8y ago
  Facebook owns Instagram, so they haven't really lost you, have they?
  - mkirklions 8y ago
    That was my point with that sentence. They still have me.
- 2trill2spill 8y ago
  > Well, I think FB has probably lost 100B in value, and as someone who stopped using FB this year because I dont enjoy it anymore-I moved to instagram and twitter. Well that's incorrect Facebook is only like $5 bucks per share off their all time high: https://finance.yahoo.com/quote/FB/ https://finance.yahoo.com/quote/FB/
rconti 8y ago
That was WhatsApp. Instagram has always been photos.
- JamesUtah07 8y ago
  WhatsApp is also turning out to be a great acquisition too
matte_black 8y ago
If I remember correctly, they paid only a cool billion for Instagram, which means this would be a 100x return at this valuation.
mrisoli 8y ago
I laughed too, I was thinking "Wow, $1B for a photo app that has some lame filters, take a semester of digital image processing and you could do that". To their credit, the app was extremely simple back then, today it has managed to add complexity without being so overwhelming(although Instagram TV adds more eyesore to the screen), slowly they copied good, proven features and blended well into the Facebook ecosystem.

I can remember how everybody was laughing about the acquisition: "Waaat? Billions for a chat app? hahaha" It's amazing how things are turning out.

by hknd 8y ago

I can remember how everybody was laughing about the acquisition: "Waaat? Billions for a chat app? hahaha" It's amazing how things are turning out.

27182818284 8y ago

I remember not thinking that it was overpriced, but amazed that it became a threat to Facebook worth that in just like 2 years. If I recall correctly, it was a team of 13 at the time of that offer.

mkirklions 8y ago

Well, I think FB has probably lost 100B in value, and as someone who stopped using FB this year because I dont enjoy it anymore- I moved to instagram and twitter. Mind you, 100B for an app that is filled with bots and corporate accounts makes me think whoever did the valuation has never actually used IG.

saagarjha 8y ago
Facebook owns Instagram, so they haven't really lost you, have they?
- mkirklions 8y ago
  That was my point with that sentence. They still have me.
2trill2spill 8y ago
> Well, I think FB has probably lost 100B in value, and as someone who stopped using FB this year because I dont enjoy it anymore-I moved to instagram and twitter. Well that's incorrect Facebook is only like $5 bucks per share off their all time high: https://finance.yahoo.com/quote/FB/ https://finance.yahoo.com/quote/FB/

rconti 8y ago

That was WhatsApp. Instagram has always been photos.

JamesUtah07 8y ago
WhatsApp is also turning out to be a great acquisition too

matte_black 8y ago

If I remember correctly, they paid only a cool billion for Instagram, which means this would be a 100x return at this valuation.

mrisoli 8y ago

I laughed too, I was thinking "Wow, $1B for a photo app that has some lame filters, take a semester of digital image processing and you could do that". To their credit, the app was extremely simple back then, today it has managed to add complexity without being so overwhelming(although Instagram TV adds more eyesore to the screen), slowly they copied good, proven features and blended well into the Facebook ecosystem.