Looks like Instagrammers won’t be rolling in dough just yet: Facebook revealed in its S-1 filing today that it shelled out just $300m in cash for Instagram, as well as 23m shares of Facebook stock. The filing is confirmation of Dealbook’s report last week. According to the Wall Street Journal, “Monday’s disclosure indicated that stock accounted for about 70% of the purchase price and that the shares were valued at roughly $30 apiece.”
$300 million is a ton of cash, but once Facebook officially goes public on May 17th, Instagram employees stand to get even richer. Because you know what’s cooler than a million dollars? A billion dollars, even if it’s mostly in stock.