Right Before Acquisition, Instagram Closed $50M At A $500M Valuation From Sequoia, Thrive, Greylock And Benchmark

Welcome to the Monday where Facebook buys Instagram. Actually I'm as shocked as you are about the acquisition, namely because I was working on it?as a funding story all morning. From what I'm hearing investors were shocked as well. Because the rumors are true, right before its billion dollar acquisition from Facebook, Instagram closed a $50 million Series B round from Sequoia, Josh Kushner's Thrive Capital, Greylock and Benchmark at a $500 million valuation. The round was led by Sequoia, as first reported by AllThingsD's Liz Gannes.

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