Systrom and Krieger Sold Instagram for $1 Billion. Now It’s Worth $100 Billion
Kevin Systrom, left, and Mike Krieger
Photographer: Christie Hemm Klok/The New York Times via ReduxThis article is for subscribers only.
Instagram founders Kevin Systrom and Mike Krieger are leaving Facebook Inc. after banging heads with Chief Executive Officer Mark Zuckerberg over the photo-sharing app’s direction. They depart, however, with bragging rights: Instagram was purchased by Facebook for $1 billion in 2012 -- with a final value of $715 million -- and is now estimated to be worth more than $100 billion, marking a more than 100-fold return, according to data compiled by Bloomberg Intelligence.