Many people thought that Mark Zuckerberg was absolutely nuts to pay a billion dollars for Instagram a couple of years ago (I thought it was inspired as I wrote at the time). After all the photo sharing app only had 27 million users, hadn't yet launched on Android and had no idea how to make money. 1000s of articles were written about Zucks being a poor CEO but he is the one laughing today with Instagram being valued at $35 Billion. Here is the note that Citigroup just shared...
It is of course just a paper valuation but given the traction Instagram has and the high adoption rates along with their potential to make money it doesn't sound to ridiculous that it could come true. Love this calling out of an article at the time by Chris Dixon.
From 2012: "Does Facebook's buyout of Instagram signal the end of the tech bubble?" http://t.co/Ij1n3EgToz
— Chris Dixon (@cdixon) December 19, 2014