Mark Zuckerberg isn't the only one who lost a ton of money due to the precipitous fall of Facebook' stock price. According to the New York Times, Instagram, the company's last high-profile acquisition, is also out of a couple hundred million.
When Facebook acquired Instagram back in April, the big story was that the world's largest social network dished out $1 billion for the popular upstart photo-sharing app. That claim was soon clarified and we learned that Facebook actually only threw down $300 million in cash, and made up the difference with 23 million shares of Facebook stock. As you may have heard, Facebook's stock has nose-dived off a cliff in the recent weeks, falling from $30 a share to somewhere in the mid-to-low teens. Because of this, Instagram has lost nearly $300 million.
Steven M. Davidoff of the New York Times believes Instagram could have gotten itself a much better deal, one that would have protected it from Facebook's stock troubles. Head over to the Times' DealBook blog to find out how.