Instagram CEO Gets Into the Forbes List

Four years after making a one-billion-dollar deal with Facebook, Instagram CEO Kevin Systrom has reached the status of a billionaire.

When Systrom first got an important amount of money he appeared on Forbes. It was August 2012, just after making a deal with Facebook, through which he sold his picture-sharing app, Instagram, to Facebook. The price? One billion dollars in cash and shares. Four years later, Systrom has appeared again on the prestigious magazine’s first page, now as a new billionaire. According to Forbes, he is now the proud owner of $1.1  billion.

In 2012, two years after founding Instagram, Systrom had 13 employees and was the owner of an important part of Instagram. After selling it, he retained 40% of the actions and got $300 million in cash and 23 million Facebook shares (not those shares!). Facebook’s shares had a relatively low value – it had just been taken public and each share had a value of $18. Now, they’re worth 5 times what they were back then.

Kevin Systrom, Instagram's CEO
Kevin Systrom, Instagram’s CEO

Systrom joined Walmart’s CEO board in September 2014, and he could have been a part of the Facebook story, although he wouldn’t have entered the Billionaire Club if he had done so (or would he?). In 2005, just before graduating from college, Zuckerberg asked him to to quit Stanford and create a photography service for his newly-born social network – Facebook. Systrom declined the offer, which would have given him millions of dollars in shares. He started working at a café and in Google before creating an app called Burbn, which would finally become Instagram.

But it’s not only Systrom’s money, but also his app, what has grown incredibly. More than 500 million people use it every month, and according to Forbes, its value would be over $50 million if it were still an independent company.

Comments are closed.

Recent Comments

    contact

    http://www.humancomments.com
    info.humancomments@gmail.com

    Disclaimer

    This blog has been developed to help all those interested in spreading their brand via Instagram.