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According to Crunchbase and Techcrunch, they raised $40M just a month ago at a $500M valuation. Something doesn't add up here. A billion dollar deal like this h

by cmer 15y ago

According to Crunchbase and Techcrunch, they raised $40M just a month ago at a $500M valuation. Something doesn't add up here. A billion dollar deal like this had to take more than a couple of weeks to close... http://techcrunch.com/2012/03/08/no-filter-required-instagram-reportedly-raising-40m-at-500m-valuation/ http://techcrunch.com/2012/03/08/no-filter-required-instagra...

draggnar 15y ago
Is it against some regulation to do negotiations concurrently?
- dkasper 15y ago
  No. Some deals will include "no-shop" and other similar clauses to prevent this sort of thing, but it's definitely not a requirement.
- cmer 15y ago
  No but why raise so much money at such a lousy valuation if you're 30 days away from a billion dollar exit?
cperciva 15y ago
"poised to pick up another round of funding" doesn't mean that the funding round has actually closed. Sounds to me like they were keeping their options open, using the threat of raising another VC round to get Facebook to hurry up with an offer.
- guan 15y ago
  According to TechCrunch, the round did close and the money was wired to Instagram last Thursday. http://techcrunch.com/2012/04/09/right-before-acquisition-instagram-closed-50m-at-a-500m-valuation-from-sequoia-thrive-greylock-and-benchmark/ http://techcrunch.com/2012/04/09/right-before-acquisition-in...
brackin 15y ago
It was announced then, could have been raised in 2011 or earlier this year.
brackin 15y ago
It was announced then, could have been raised in 2011 or earlier this year.
deleted 15y ago
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