Photo: Flickr / LeWEB11
Instagram co-founder Kevin Systrom owned 40 per cent of the company when Facebook purchased it for $1 billion today.That means Systrom got about $400 million out of the deal today, according to a report from Wired.
Co-founder Mike Krieger owns 10 per cent of the company and will get around $100 million.
This ownership breakdown in Wired doesn’t appear to account for a new $50 million round which closed on Thursday last week.
Here’s how the rest of the investors and employees made out, according to Wired:
- Benchmark Capital owns 18 per cent, picks up $180 million.
- Andreessen-Horowitz owns 10 per cent, picking up $100 million.
- Baseline Ventures owns 10 per cent, picking up $100 million.
- The rest of Instagram’s employees own about 10 per cent of the company and will split $100 million between themselves.
The new $50 million round amounted to 10 per cent of the company (at a $500 million valuation) and included investors Thrive Capital, Greylock Partners, Sequoia Capital and Benchmark Capital.