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.
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?’"
"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.