Money

Instagram Co-Founder Kevin Systrom Once Turned Down Facebook Job

| by Michael Allen

Instagram co-founder and CEO Kevin Systrom (pictured on the right with Instagram co-founder Mike Krieger) once got a job offer from Facebook co-founder and CEO Mark Zuckerberg, but turned it down. 

However, he didn't turn down the $1 billion that Facebook is offering for his company, a San-Francisco based photo-sharing app, which was started just 15 months ago. The Instagram app which allows users to alter and post images on their smartphones and tablets.

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Facebook yesterday announced it is acquiring Instagram (and its 13 employees) for approximately $1 billion in cash and stock. Ironically, Systrom and Zuckerberg have known each other for years.

Systrom told Fast Company last year: "This was when I first met Adam D’Angelo and Mark [Zuckerberg] from Facebook. When they first came out to Palo Alto, I was in this fraternity at Stanford called Sigma Nu, and through a bunch of connections, we ended up meeting those guys, time and time again. So when I met Adam and Mark, they were like, ‘Yeah, we’re working on some photo stuff too, why don’t you come talk to us about Facebook?’"

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"Unfortunately, I decided I wanted to stay in school, and that’s one of those decisions that I look back at. I would’ve loved to have been part of Facebook’s growth over the years, but it was the first time I met those guys. It was certainly the harbinger for what was to come in my future.”

Systrom will finally work at Facebook and receive $400 million out of the deal, according to Wired.