Instagram Founder Rich Suddenly After the Sale Shares of Facebook

As the entry of Facebook into the Nasdaq stock market on Friday (5/18/2012), the manufacturer of the application editing and sharing photos Instagram so suddenly rich.

In the acquisition agreement on Instagram Facebook worth 1 billion U.S. dollars on 9 April 2012 and then, founder and CEO Mark Zuckerberg promised to buy Instagram in cash and 300 million U.S. dollars plus 23 million shares.

Facebook managed to raise the price of its inaugural sale of shares (IPO) to 38 U.S. dollars per share. This means, Instagram gets 874 million dollars thanks to Facebook IPO.

This makes the acquisition price is no longer up for Instagram 1 billion, but up 17% of the initial agreement to 1.174 billion U.S. dollars.

Two founders of Instagram, namely Kevin Systrom and Mike Krieger certainly pleased with Facebook IPO, given Instagram can not make money, which means since its launch on October 6, 2010 and for the IOS device.

However, the money has not come out in the near future as bound by some rules.

13 employees who care Instagram currently still working at their offices in San Francisco, did not join the Facebook headquarters in Menlo Park.