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Instagram is not worth $1 billion to Facebook

Sat, Apr 14, 2012 - 12:27pm -- Isaac Sukin

This is based on a comment I wrote on the Mashable post Why Instagram Was Worth $1 Billion to Facebook which has absolutely no explanation of why Instagram was worth $1 billion to Facebook.

How can you have a whole post about how Instagram was worth $1 Billion and have absolutely zero numbers in it? Yet that's what we're seeing all over the internet in the wake of Facebook's billion-dollar acquisition. Many people have explained why Facebook bought Instagram, but few have explained the valuation. Explanations for the purchase generally break down into these points:

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