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Facebook wins approval from California to issue stock for its purchase of Instagram. The deal -...

Facebook wins approval from California to issue stock for its purchase of Instagram. The deal - made up of $300M cash and nearly 23M FB shares - is valued at about $730M now vs. roughly $1B when announced in April. "(I) realize there's upside and downside to all public markets," says Instagram founder Kevin Systrom. "We still firmly believe in the long-term value of Facebook."
Comments (3)
  • proffowler123
    , contributor
    Comments (25) | Send Message
     
    I've not read the Security Purchase Agreement, anyone know about the lockup restrictions? This will be an interesting one too! Maybe another "Mr. Thiel"?
    29 Aug 2012, 04:34 PM Reply Like
  • ManoLive
    , contributor
    Comments (437) | Send Message
     
    Just what the shorts need. More FB shares.
    29 Aug 2012, 04:56 PM Reply Like
  • padresguy
    , contributor
    Comments (168) | Send Message
     
    Agreed, Systrom will sell those shares as fast as the sec will allow.
    30 Aug 2012, 12:57 AM Reply Like
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