As reported back in August, Facebook did not purchase Instagram for $1 billion. The social network yesterday released its quarterly investment report which detailed the final numbers of the acquisition.
Facebook paid $521 million in cash and stock to purchase Instagram. Out of the $521 million, $300 million was paid in cash and the rest was 12 million shares of common stock. Prior to the closing of the deal in September, Facebook issued 11 million shares to the employees of Instagram valued at $194 million.
So, in short: Instead of $1 billion, Facebook only paid $715 million for Instgram, majority of the purchase being paid in stock.
[via The Next Web]
