» That’s quite a deal for Kevin Systrom and company, considering the government will likely be monitoring a deal of this magnitude. According to an updated S-1 filing, Facebook has already paid $300 million to Instagram and agreed to pay a $200 million “termination fee” if any government agency blocks the planned buy-out. While it’s certainly not the same as a billion dollars, we imagine that the Instagram staff can sleep soundly knowing that they’ll all be millionaires no matter what. But, with that said, we’d be willing to bet that Facebook’s board of directors would have liked to have known about this little detail.
» A sad subtext: The company that made one of the cameras that inspired Instagram’s square shape is so broke that they have to ask a court for permission to pay out bonuses to 300 key employees. Meanwhile, Instagram has right around a dozen people who are receiving cash and stock from a company likely to have the biggest IPO in history. With its direct visual inspiration struggling, Instagram is now worth 12 Kodaks. If there was a more perfect display of the concept of “creative destruction,” we haven’t seen it. (thanks Philip Bump)