The largest social network in the world, Facebook’s CEO Mark Zuckerberg went back to basics and brokered a deal with the hottest, most talked about mobile photo app turned social network, Instagram. For 1 billion dollars!!!
The 13 employees of photo-sharing service Instagram are celebrating today after learning they are set to become multi-millionaires following the company’s $1billion takeover by Facebook.
Kevin Systrom, the 26-year-old CEO of the San-Francisco based photo-sharing service, which was started just 15 months ago, will net an estimated $400 million. Co-founder Mike Krieger, who holds a 10 per cent stake, and will earn around $100 million.
Now a source close to the company has revealed that a further 10 per cent stake, equating to $100million will be shared out among the firm’s 13 employees. Source
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