combination of Facebook stock and a dangled carrot of $300 million in cash. Though the numbers the two talked about were eye-watering to any normal human being, the real deal clincher was centred on the fact that Instagram would be able to operate independently within Facebook – something critically important to Systrom and his team. ‘I’m not sure what changed my mind, but he [Zuckerberg] presented an entire plan of action, and it went from a $500 million valuation from Sequoia to a $1 billion [one from Facebook]’ – Kevin Systrom Clearly, both the sheer amount of money and the natural fit with Facebook swayed Systrom. Aftermath On Monday, ‘s deal with Facebook was made public. Both Jack Dorsey and Twitter’s CEO Dick Costolo were left wondering why they hadn’t even been given the opportunity to put in a counter-offer. Continue reading “The staggering offer was double what Sequoia and Twitter were valuing the company at”
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