Systrom and Krieger Sold Instagram for $1 Billion. Now It’s Worth $100 Billion

(Bloomberg) -- Instagram founders Kevin Systrom and Mike Krieger are leaving Facebook Inc. after banging heads with Chief Executive Officer Mark Zuckerberg over the photo-sharing app’s direction. They depart, however, with bragging rights: Instagram was purchased by Facebook for $1 billion in 2012 -- with a final value of $715 million -- and is now estimated to be worth more than $100 billion, marking a more than 100-fold return, according to data compiled by Bloomberg Intelligence.

--With assistance from Sarah Frier.

To contact the reporter on this story: Brandon Kochkodin in New York at bkochkodin@bloomberg.net

To contact the editors responsible for this story: Sophie Caronello at scaronello@bloomberg.net, Nancy Moran, Molly Schuetz

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