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Four years later, in 2013, Facebook bought Instagram for one billion dollars in cash and stock. A billion dollars! Driving to Palo Alto in Evan’s Porsche, I couldn’t even conceive of a number that high. I like to think that Mark Zuckerberg learned something from his encounter with us. He wasn’t going to hedge his bets this time with some paltry offer like five hundred million in a mix of stock and cash. He probably said to Kevin Systrom, the creator of Instagram, “You’ve been working on this for eighteen months. I will give you one billion dollars.” I mean, startup, schmart-up. Who could say no to that?
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