Here's the thing: it's not real money. It was a part cash and part shares deal, and the facebook valuation is fantasy till they float. So what they were really

Here's the thing: it's not real money. It was a part cash and part shares deal, and the facebook valuation is fantasy till they float. So what they were really arguing here is a) how much cash they could get out now and b) how much instagram is worth as a proportion of facebook.